Gold, silver prices rise on renewed offtake, global cues

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Gold, silver prices rise on renewed offtake, global cues (Agencies) Gold, silver prices rise on renewed offtake, global cues (Agencies)
SummarySilver also surged on sustained speculative demand on the back of renewed industrial buying.

Gold prices recovered at the domestic bullion market today on brisk low-level retail buying amid wedding season offtake and higher global cues.

Silver also surged on sustained speculative demand on the back of renewed industrial buying.

Standard gold (99.5 purity) rose by Rs 110 per 10 grams to close at Rs 31,910 from Wednesday's closing level of Rs 31,800.

Pure gold (99.9 purity) went up by Rs 105 per 10 grams to finish at Rs 32,050 from Rs 31,945.

Silver ready (.999 fineness) shot up by Rs 330 per kg to end at Rs 62,670 as against Rs 62,340 previously.

In New York, the yellow metal ended higher after International Monetary Fund (IMF) statistics disclosed higher gold purchases made by Central banks of emerging economies.

Gold for December delivery gained USD 4.60 to USD 1,728.20 an ounce on the comex division of the NYMEX late yesterday.

Silver for December contract added by 42 cents to USD 33.35 an ounce.

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