PTI: Silver bounces back on fresh demand, gold advances further
Mumbai, Nov 19 (PTI) Silver prices bounced back on the bullion market here today on renewed industrial demand.
Gold prices continued to rule firm for the fifth trading session on sustained safe-haven buying due to fall in equity prices.
Marketmen said sustained buying by jewellery makers and retailers in view of ongoing marriage season and weak equity market pushed up both the metal prices.
In the local market, silver ready (.999 fineness) recovered by Rs 105 per kilo to Rs 16,800 from Rs 16,695 previously.
Standard gold (99.5 purity) firmed up further by Rs 30 per ten grams to Rs 12,015 from Rs 11,985 yesterday.
Pure gold (99.9 purity) also moved up by Rs 40 per ten grams to Rs 12,080 from Rs 12,040.
Precious metals traded rangebound in London, keeping an eye on the currency markets, as the dollar inched up against a basket of currencies while falling oil prices capped possible gains of bullion.
Spot gold was trading at USD 736.05 an ounce versus USD 736.35 an ounce in New York on Tuesday. PTI
