PT: Gold recovers by Rs 75 on global cues, silver declines
New Delhi, June 17 (PTI) Gold recovered by Rs 75 to Rs 18,975 per 10 grams in the bullion market today on a firming global trend, but silver lacked the necessary buying support and fell by Rs 150 to Rs 29,550 per kg.
Marketmen said fresh buying in the wake of a firming trend in overseas markets mainly led to the recovery in gold prices, but silver declined on account of a lack of support from industrial units and jewellery fabricators.
Gold in overseas markets, which normally sets the price trend on the domestic front, climbed by USD 3.95 to USD 1,232.95 an ounce over concerns that Europe's financial crisis might be prolonged, spurring demand for the metal as a safe haven for investment.
