Gold prices recovered smartly at the bullion market here
today taking positive cues from global market amid pick-up in buying by local
jewellers to meet wedding season demand.
Elsewhere, silver also firmed up owing to higher industrial
demand.
Standard gold (99.5 purity) strengthened by Rs 235 to end at
Rs 29,830 per 10 grams from yesterday's closing level of Rs 29,595.
Pure gold (99.9 purity) also added by a similar margin to
settle at Rs 29,980 per 10 grams as compared to Rs 29,745.
Silver (.999 fineness) rose by Rs 255 per kg to finish at Rs
38,850 from Rs 38,595 earlier.
Globally, Gold rose to a four-month high and was on track
for a fifth straight weekly gain as the dollar fell against the euro on an
agreement for a political coalition in Germany.
Spot gold rose 0.7 percent to USD 1,331.62 an ounce at early
trade.
Among other precious metals, spot silver rose 0.9 percent to
USD 17.13 an ounce, heading for its first weekly loss in five weeks. Silver is
up 0.6 per cent so far this week.
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