Gold edges higher on renewed off-take & firm global cues

Press Trust of India Posted online: Tuesday, Jul 01, 2014 at 0000 hrs
Mumbai : Gold prices bounced slightly higher in quiet trade at the domestic bullion market here today following increased buying from stockists and retail consumers amid a buoyant overseas sentiment.

Silver, too, rebounded owing to fresh bouts of speculative demand, coupled with higher industrial support.

Standard gold (99.5 purity) rose by Rs 95 to end at Rs 28,190 per 10 grams from overnight level of Rs 28,095.

Pure gold (99.9 purity) also moved up by a similar margin to finish at Rs 28,340 per 10 grams from Rs 28,245.

Silver (.999 fineness) climbed by Rs 175 to conclude at Rs 45,180 per kilo as compared to Monday's closing level of Rs 45,005.

Globally, the shiny metal rallied to hit three-month high at overseas trade against the back drop of escalating unrest in Iraq as well as mixed bags of US macro data.

Spot gold was bid higher at USD 1,326.40 an ounce in early European trade.