Gold price rises on low-level buying, silver rebounds

Written by Press Trust of India | Mumbai | Updated: Sep 26 2013, 01:08am hrs
Gold price
Gold prices firmed up further at the domestic bullion market today due to increased off-take by retail investors and jewellery stockists despite sluggish overseas sentiment.

Silver rebounded sharply, snapping a two-day slide, on the back of heavy speculative demand.

Standard gold of 99.5 per cent purity rose by Rs 160 to conclude at Rs 29,980 per 10 gm from Tuesday's closing level of Rs 29,820.

Pure gold of 99.9 per cent purity also added a similar margin to close at Rs 30,130 per 10 gm from Rs 29,970.

Silver ready (.999 fineness) jumped by Rs 325 to end at Rs 50,040 per kg as against Rs 49,715 previously.

Globally, the yellow metal traded almost flat on investor cautiousness amid uncertainty over US monetary and fiscal policy.

Spot gold was bid up at USD 1,323 an ounce in early trade in Europe, while silver was down at USD 21.62 an ounce.