1. Gold, silver price rebound on global cues

Gold, silver price rebound on global cues

Gold prices shot up at the domestic bullion market today, tracking a firm trend overseas and increased buying by jewellers to meet the ongoing wedding season.

By: | Mumbai | Updated: February 1, 2016 7:19 PM
gold

Pure gold (99.9 purity) also surged by a similar margin to end at Rs 26,930 per 10 grams as against Rs 26,700 earlier. (Express photo)

Gold prices shot up at the domestic bullion market today, tracking a firm trend overseas and increased buying by jewellers to meet the ongoing wedding season.

Silver also surged to close above the key Rs 35,000 mark on the back of heavy industrial demand.

Standard gold (99.5 purity) jumped by Rs 230 to finish at Rs 26,780 per 10 grams from Friday’s closing level of Rs 26,550.

Pure gold (99.9 purity) also surged by a similar margin to end at Rs 26,930 per 10 grams as against Rs 26,700 earlier.

Silver (.999 fineness) rose by Rs 190 per kg to conclude at Rs 35,110 from Rs 34,920 previously.

Globally, gold edged higher, extending its recent rally on worries about global economic growth and hopes for easier monetary policy after weak factory data in Asia and Europe.

Spot gold added 0.4 percent at $1,122.18 an ounce in early European trade. Bullion gained 5.4 percent last month, its largest gain since January 2015, while Spot silver rose 0.5 percent to $ 14.33 an ounce.

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