1. Gold sparkles in New Year trade amid feeble demand

Gold sparkles in New Year trade amid feeble demand

After a brief overnight setback, gold staged a smart rebound on the first trading day of 2016 and closed above the significant Rs 25,000 mark at the domestic bullion hub here.

By: | Mumbai | Published: January 1, 2016 7:33 PM
Standard gold (99.5 purity) edged up by Rs 35 per 10 grams to settle at Rs 25,015 from Thursday's closing level of Rs 24,980.  (AP)

Standard gold (99.5 purity) edged up by Rs 35 per 10 grams to settle at Rs 25,015 from Thursday’s closing level of Rs 24,980. (AP)

After a brief overnight setback, gold staged a smart rebound on the first trading day of 2016 and closed above the significant Rs 25,000 mark at the domestic bullion hub here.

Fresh bouts of buying from jewellery stockists and retailers alongside good festive offtake mainly lifted sentiment.
Elsewhere, silver also gained some lost ground due to renewed industrial buying.

Trading were also largely affected in the absence of any directional cues from the global markets in view of the New Year holiday.

Standard gold (99.5 purity) edged up by Rs 35 per 10 grams to settle at Rs 25,015 from Thursday’s closing level of Rs 24,980.

Pure gold (99.9 purity) also moved up by a similar margin to end at Rs 25,165 per 10 grams against Rs 25,130.

Silver (.999 fineness) rose by Rs 45 to conclude at Rs 33,610 per kg compared to Rs 33,565 yesterday.

Tags: Gold
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