ENM: Silver recovers modestly on global cues, gold moves up
MUMBAI: Silver prices recovered moderately at the bullion market here today due to low level buying by stockists amid firm industrial support on the back of rebound in the International market.
Gold traded lacklustre and moved up slightly on mild buying support from the local retailers.
Silver ready (.999 fineness) firmed up by Rs 55 per kg to close at Rs 49,470 from overnight closing level of Rs 49,415.
Standard gold (99.5 per cent purity) edged up by Rs 15 per 10 grams to settle at Rs 20,635 from Rs 20,620 previously.
Pure gold (99.9 per cent purity) also looked up by similar margin to finish at Rs 20,735 as against Rs 20,720 yesterday.
In New York, gold futures ended at seven-week high over violence in Libya pushing the investor safe-haven buying.
Gold for April delivery added USD 12.50 to USD 1,401.10 an ounce at the COMEX division of the NYMEX yesterday.
Silver for March delivery gained 57 cents, to settle at USD 32.86 an ounce.
