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Gold recovers on global cues, silver slips
Gold prices recovered modestly by Rs 20 per 10 grams at the bullion market here today on fresh demand from stockists and retailers amid bullish global cues.
By
migrator
migrator
Mumbai
However, silver slipped by Rs 210 per kg on speculative selling and subdued industrial buying.
Standard gold (99.5 purity) rose by Rs 20 to close at Rs 29,445 per 10 grams from Wednesday's level of Rs 29,425.
Pure gold (99.9 purity) also moved up by the same margin to finish at Rs 29,595 per 10 grams compared to Rs 29,575 yesterday.
However, silver (.999 fineness) dropped by Rs 210 per kg to finish at Rs 38,860 as against Rs 39,070 previously.
Globally, gold ticked higher as some speculators bet that a slide from last month’s peak had run its course as they waited for more clues on whether US interest rates would be hiked.
Spot gold was up at USD 1,277.82 an ounce in early European trade and silver rose to USD 16.66 an ounce.
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