IE:Gold price rebound on good buying, modest recovery in silver
Gold prices rebounded smartly at the domestic bullion market here today amid buying by stockists and jewellers amidst better European trend.
Silver also gained modestly on speculative buying. Standard gold (99.5 purity) surged by Rs 230 to end at Rs 28,170 per 10 gm from Wednesday's closing level of Rs 27,940.
Pure gold (99.9 purity) also spurted by a similar margin of Rs 230 to close at Rs 28,300 per 10 gm from Rs 28,070.
Silver ready (.999 fineness) rose by Rs 260 per kg to conclude at Rs 52,700 compared to Rs 52,440 yesterday.
In Europe, gold traded higher as weaker prices attracted physical buying interest, though gains were capped due to concerns over deepening debt crisis.
Spot gold was bid up at USD 1,547.86 an ounce in early trade, silver also bid higher at USD 27.55 an ounce.
