1. Gold price edges up on improved buying; silver rallies

Gold price edges up on improved buying; silver rallies

Gold prices gained marginally at the domestic bullion market today owing to better retail and investment...

By: | Mumbai | Published: December 12, 2014 8:38 PM

Gold prices gained marginally at the domestic bullion market today owing to better retail and investment offtake despite lacklustre overseas sentiment.

Elsewhere, silver surged ahead to close at its highest level in two-and-a-half months on the back of heavy industrial demand.

Standard gold (99.5 purity) moved up by Rs 15 to end at Rs 26,890 per 10 grams from Thursday’s closing level of Rs 26,875.

Pure gold (99.9 purity) rose by a similar margin to finish at Rs 27,040 per 10 grams as against Rs 27,025.

Silver (.999 fineness) jumped by Rs 230 to conclude at Rs 38,785 per kg as compared to Rs 38,555 yesterday.

In worldwide trade, the yellow metal dropped further on selling by investors after overnight upbeat US retail sales data as well as a strengthened dollar value.

Spot gold was trading lower at USD 1,221.00 an ounce in early European trade.

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