ET: Gold recovers on fresh demand, silver firms up
MUMBAI: Gold prices recovered smartly by Rs 330 to Rs 17,470 per ten grams at the bullion market here on Thursday on the back of aggressive buying by stockists and jewellers sparked by a sharp rise in global markets.
Silver firmed up on fresh demand from industrial users. Standard gold (99.5 purity) strengthened by Rs 330 per ten grams to end at Rs 17,470 from yesterday's closing level of Rs 17,140.
Pure gold (99.9 purity) jumped by Rs 335 per ten grams to finish at Rs 17,555 as against Rs 17,220 previously.
Silver ready (.999 fineness) shot up by Rs 315 per kilo to close at Rs 28,265 from Rs 27,950 on Wednesday.
In London, spot gold was bid at USD 1,184.11 an ounce in early trade as against USD 1,174.20 late in New York on Wednesday.
US gold for June delivery rose by USD 10 to USD 1,185 an ounce on the Comex division of the NYMEX.
Silver was bid at USD 17.67 an ounce as against USD 17.43.
