Gold gains more on global cues, silver strengthens

By: |
Mumbai | Published: February 3, 2016 6:25:46 PM

Gold prices strengthened further at the domestic bullion market here on sustained demand from stockists jewellers, well supported by a surge in international markets.

goldGold prices strengthened further at the domestic bullion market here on sustained demand from stockists jewellers, well supported by a surge in international markets. (Reuters)

Gold prices strengthened further at the domestic bullion market here on sustained demand from stockists jewellers, well supported by a surge in international markets.

While, silver also recovered by rising Rs 385 to Rs 35,425 per kg due to increased offtake by industrial units.

Standard gold (99.5 purity) gained by Rs 115 to end at Rs 26,980 per 10 grams as against yesterday’s closing level of Rs 26,865.

Pure gold (99.9 purity) also rallied by a similar margin to conclude at Rs 27,130 per 10 grams as against Rs 27,015 previously.

However, silver (.999 fineness) climbed by Rs 385 to finish at Rs 35,425 compared with Rs 35,040 yesterday.

On the global front, gold stabilised just below a three-month high, as the dollar edged lower and European shares tumbled, prompting investors to seek shelter in assets perceived as safer.

Spot gold was up 0.1 percent at USD 1,128.80 an ounce in early trade, within sight of Tuesday’s peak of USD 1,130.30, its strongest since Nov. 3.

Among other precious metal, spot silver rose 0.7 percent to USD 14.39 an ounce.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Oil futures nudge higher, reversing earlier falls but oversupply weighs
2Gold prices stick near 3-month high as risk aversion in play
3Agriculture, processed food exports shrink 21per cent in April-December