Gold, Silver Prices Rise on Good Demand, Global Cues


Gold, Silver Prices Rise on Good Demand, Global Cues

Mumbai: Gold prices rallied further at the domestic bullion market on increased buying from retailers and jewellers on the back of firm global sentiment.

Silver also firmed up owing to sustained demand from stockists as well as higher industrial offtake.

Standard gold of 99.5 per cent purity rose by 105 to conclude at 29,515 per 10 gm from overnight closing level of 29,410.

Pure gold of 99.9 per cent purity also hardened by a similar margin of 105 to end at 29,655 per 10 gm from 29,550.

Silver ready (.999 fineness) strengthened by 130 to finish at 55,515 per kg from closing level of 55,385.

On the global front, gold rallied to near a two-week high in European trade on a combination of bargain hunting and safe-haven demand amid fresh concerns about the euro zone crisis following disappointing data on factory output.

Spot gold was bid higher at $1,595.84 per troy ounce in early trade and spot silver was bid up at $29.14 per troy ounce.

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Source: PTI