MUMBAI: Gold prices recovered moderately in a narrowly mixed trend on the bullion market here today on mild stockists demand on the back of
positive global advices.
Silver, however, declined on lack of industrial buying. Gold prices firmed up in Europe as the dollar weakened against the euro ahead of the data as investors sold the US currency in favour of higher-yielding assets, lending support to the precious metals, boosting these metal's appeal as a currency hedge.
Traders are eyeing US non-farms payrolls data due out later in the session for future clues as to the next direction of trade in precious metals. Spot gold was quoted at USD 741.05/743.05 an ounce against USD 731.55 in late New York on Thurday.
Spot silver also rose to USD 10.14/10.24 an ounce from USD 9.96 an ounnce previously. Turning to the local market, standard gold (99.5 purity) moved up by Rs 25 per ten grams to finish at Rs 11,670 as against the yesterday's closing level of Rs 11,645.
Pure gold (99.9 purity) also looked up to Rs 11,730 from Rs 11,705. However, silver ready (.999 fineness) eased to Rs 17,495 per kilo from Rs 17,515.
