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Gold, silver recovers on stray demand

Last Updated: Tuesday, March 26, 2013 - 18:24

Mumbai: Gold prices recovered modestly at the domestic bullion market on Tuesday on stray demand from stockists and traders.

Silver also rose on speculative off-take amid good industrial demand.

Standard gold of 99.5 percent purity moved up by Rs 25 to end at Rs 29,540 per 10 gm from Monday's closing level of Rs 29,515.

Pure gold of 99.9 percent purity also gained by a similar margin to close at Rs 29,675 per 10 gm from Rs 29,650 yesterday.

Silver ready (.999 fineness) climbed by Rs 165 to conclude at Rs 54,775 per kg from Rs 54,610 previously.

On the global front, gold fell below USD 1,600 on selling pressure following diminishing safe haven appeal after clinching of deal by Cyprus with international lenders amid European Central bank allaying fears of negative implications for other eurozone states.

In Europe, gold was bid down at USD 1,596.40.76 an ounce in early trade, while spot silver was bid lower at USD 28.74 an ounce.


First Published: Tuesday, March 26, 2013 - 18:24
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