1. Gold inches up on stockists offtake, silver slips

Gold inches up on stockists offtake, silver slips

Breaking a two-day downtrend, gold prices rebounded marginally at the domestic bullion market here today due to renewed offtake by stockists amid positive global cues.

By: | Mumbai | Published: November 19, 2015 7:29 PM
gold

Breaking a two-day downtrend, gold prices rebounded marginally at the domestic bullion market here today due to renewed offtake by stockists amid positive global cues. (Reuters)

Breaking a two-day downtrend, gold prices rebounded marginally at the domestic bullion market here today due to renewed offtake by stockists amid positive global cues.

In contrast, silver fell back after a brief overnight recovery owing to subdued industrial buying.

Standard gold (99.5 purity) moved up by Rs 45 to finish at Rs 25,250 per 10 grams from Wednesday’s closing level of Rs 25,205.

Pure gold (99.9 purity) also up by a similar margin to settle at Rs 25,400 per 10 grams as against Rs 25,355 earlier.

However, silver (.999 fineness) moved down by Rs 25 per kg to close at Rs 34,750 compared to Rs 34,775 yesterday.

On the global front, the yellow-metal traded firmly higher, recovering from its lowest levels in nearly six years on bargain buying amid continued fallout following the release of hawkish minutes from October’s Fed policy meeting.

Spot was almost flat at USD 1,073.90 an ounce in early European trade, while silver quoted a tad higher at USD 14.17 an ounce.

Tags: Gold
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