Gold, silver prices edge higher on renewed off-take, global cues

May 07 2014, 18:21 IST
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Gold prices rose modestly on the domestic bullion market due to renewed off-take from jewellery stockists as well as seasonal demand. Reuters Gold prices rose modestly on the domestic bullion market due to renewed off-take from jewellery stockists as well as seasonal demand. Reuters
SummaryStandard gold firmed up by Rs 70 to end at Rs 30,080 per 10 grams from Tuesday's closing level of Rs 30,010.

Gold prices rose modestly on the domestic bullion market today due to renewed off-take from jewellery stockists as well as seasonal demand supported by higher global sentiment.

Silver also gained on fresh industrial buying support.

Standard gold (99.5 purity) firmed up by Rs 70 to end at Rs 30,080 per 10 grams from Tuesday's closing level of Rs 30,010.

Pure gold (99.9 purity) also moved up by a similar margin to finish at Rs 30,230 per 10 grams as compared with Rs 30,160 previously.

Silver (.999 fineness) added Rs 25 to conclude at Rs 43,465 per kg from yesterday's close of Rs 43,440.

Globally, the shiny metal rallied to three-week highs on disappointing US trade data and worries about escalating violence in Ukraine amid lower dollar valuation.

Spot gold was bid higher at USD 1,312.30 an ounce in early European trade, while spot silver was up at USD 19.68 an ounce.

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