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Gold bounces back on fresh buying, silver rallies

Mumbai: Gold prices rebounded smartly at the domestic bullion market here today on emergence of fresh buying from jewellery traders and retailers amidst seasonal demand on the back of higher global cues.  Industrial metal silver
gold bounces back on fresh buying silver rallies...
PTI May 14, 2015 18:35 IST

Mumbai: Gold prices rebounded smartly at the domestic bullion market here today on emergence of fresh buying from jewellery traders and retailers amidst seasonal demand on the back of higher global cues.  Industrial metal silver rallied owing to heavy industrial offtake.

Standard gold (99.5 purity) climbed by Rs 270 to end at Rs 27,405 per 10 grams from Wednesday's closing level of Rs 27,135.

Pure gold (99.9 purity) also moved up by a similar margin to finish at Rs 27,555 per 10 grams from Rs 27,285.

Silver (.999 fineness) shot-up by Rs 850 to conclude at Rs 39,865 per kg as compared to Rs 39,015 yesterday.

On the global front, gold hit a five-week high in early trade as the dollar remained under pressure following sluggish US data that pushed back expectations of when interest rates in the world's largest economy will rise.

Spot gold rose to the highest since April 6 at USD 1,219.70 an ounce and was trading at USD 1,218.05 an ounce in early trade and silver rose to a seven-week high of USD 17.38 an ounce.

 

 

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