Gold regains some glitter ahead of Fed meet outcome

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Published: July 29, 2015 11:16:32 PM

Snapping its 2-day downtrend, gold prices recovered marginally at the domestic bullion market here today on renewed buying support from stockists as well as retailers.

Snapping its 2-day downtrend, gold prices recovered marginally at the domestic bullion market here today on renewed buying support from stockists as well as retailers.

Silver also firmed up owing to better industrial demand.

Standard gold (99.5 purity) rose by Rs 55 to settle at Rs 24,835 per 10 grams from Tuesday’s closing level of Rs 24,780.

Pure gold (99.9 purity) also rose by a similar margin at Rs 24,985 per 10 grams as compared to Rs 24,930 previously.

Silver (.999 fineness) edged up by Rs 50 to finish at Rs 34,340 per kg as against Rs 34,290 yesterday.

In worldwide trade, the shiny metal traded listlessly as investors await the outcome of US Federal Reserve’s latest economic policy decisions amid fresh round of rate hike speculation.

Spot gold was little changed at USD 1,096.40 an ounce in early European trade, while silver was quoted weak at USD 14.63 an ounce.

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