Gold, silver prices recover in Mumbai as demand rises

Written by PTI | Mumbai | Updated: Nov 30 2013, 04:20am hrs
Gold pricePure gold price (99.9 purity) also gained by Rs 265 to finish at Rs 30,845 per 10 grams from Rs 30,580. Reuters
Gold price rebounded at the Indian bullion market on renewed off-take from stockists and traders as well as good local buying interest at the existing lower level amid ongoing marriage season.

Silver price also soared on speculative buying following industrial demand.

Standard gold (99.5 purity) climbed by Rs 260 to end at Rs 30,695 per 10 grams from Thursday's closing level of Rs 30,435.

Pure gold price (99.9 purity) also gained by Rs 265 to finish at Rs 30,845 per 10 grams from Rs 30,580.

Silver ready (.999 fineness) surged by Rs 235 to conclude at Rs 45,715 per kg as against Rs 45,480 yesterday.

Overseas, gold edged up in early trade as the dollar fell, on signs that recovery in the US economy could lead to easy central bank money drying up.

The yellow metal stayed below USD 1,300 for the past three weeks and has been largely rangebound in the last few sessions due to thin trading around the US Thanksgiving holiday yesterday.

In London, spot gold rose to USD 1,245.70 an ounce in early trade and silver was also up at USD 19.83 an ounce.