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Gold, silver prices gain on renewed demand, firm overseas trend

Apr 03 2014, 19:05 IST
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SummaryGold prices recovered smartly today on fresh bouts of buying from stockists and retail investors amid firm global trend.

Snapping two-session downtrend, gold prices recovered smartly today on fresh bouts of buying from stockists and retail investors amid firm global trend.

Silver also gained and reclaimed the Rs 43,000 per kg mark on heavy speculative off-take coupled with higher industrial buying support.

Standard gold (99.5 purity) spurted by Rs 295 to Rs 28,417 per 10 grams at 1700 hrs from Rs 28,122 on Wednesday, a bullion trading firm said.

Pure gold (99.9 purity) rose by Rs 284 to Rs 28,556 per 10 grams from Rs 28,272 previously, according to Riddisiddhi Bullions Ltd.

Silver (.999 fineness) jumped by Rs 613 to Rs 43,497 per kg at 1700 hrs from yesterday's level of Rs 42,884.

Globally, gold regained some lost ground on bargain buying amid short-covering ahead of key US macro data tomorrow.

Gold for June delivery rose by USD 10.80 to settle at USD 1,290.80 on the comex division of the NYMEX late yesterday and May silver contract also gained to finish at USD 20.05 an ounce.

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