Gold price regains on renewed off-take

PTI Posted online: Friday, Jun 27, 2014 at 0000 hrs
Mumbai : Gold prices bounced back after two straight session downtrend at the domestic bullion market here today on increased buying support from retail consumers and investors despite a weak global sentiment.

Silver rose further owing to sustained demand from jewellers and coin makers.

Standard gold (99.5 purity) firmed up by Rs 55 to finish at Rs 28,150 per 10 grams from Thursday's closing level of Rs 28,095.

Pure gold (99.9 purity) added by Rs 60 to end at Rs 28,300 per 10 grams against Rs 28,240 previously.

Silver (.999 fineness) climbed by Rs 185 to conclude at Rs 45,285 per kg as compared to Rs 45,100 yesterday.

Globally, the yellow-metal dropped on investors' selling after recent sharp spike amid caution ahead of key macro data numbers later in the day.

Gold for August delivery fell by USD 5.60 to settled at USD 1,317 an ounce on the Comex division of the NYMEX late yesterday, while July silver contract eased to USD 21.11 an ounce.