Gold, silver rebound on global cues

MUMBAI: After two-days of fall, gold prices rebounded at the bullion market today, tracking a rising overseas trend and buying by jewellers at prevailing lower levels. Silver followed suit and reclaimed Rs 43,000-mark by rising by Rs 360 per kg on fresh offtake by industrial units.

Standard gold (99.5 purity) surged by Rs 285 to finish at Rs 29,350 per 10 grams from yesterday's closing level of Rs 29,065.

Pure gold (99.9 purity) also rose by a similar margin to end at Rs 29,500 per 10 grams as compared to Rs 29,215 earlier. Silver (.999 fineness) climbed by Rs 360 per kg to finish at Rs 43,270 from Rs 42,910 yesterday. Globally, gold prices rose as the dollar drifted down from one-month highs hit in the previous session on upbeat US economic data that boosted the prospects of an interest rate hike by the Federal Reserve next month. Spot gold had ticked up 0.2 percent, to USD 1,235.01 per ounce at early trade. Meanwhile, spot silver edged up 0.—PTI


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