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Modest recovery in gold, Silver spurts Rs 1030/kg

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Silver spurted by Rs 1,030 a kg to finish at Rs 55,700 on Tuesday as against Rs 54,670 yesterday.
Silver spurted by Rs 1,030 a kg to finish at Rs 55,700 on Tuesday as against Rs 54,670 yesterday.

Gold prices recovered modestly at the domestic bullion market on Tuesday on renewed stockists’ and investors’ off—take amidst stray local buying interest on the back of ongoing festive seasons.

Silver shot up on hectic speculative surge, well-supported by higher overseas cues.

Standard gold (99.5 purity) rose by Rs 40 to close at Rs 30,090 per 10 grams from Monday’s closing level of Rs 30,050.

Pure gold (99.9 purity) went up by Rs 60 to conclude at Rs 30,240 per 10 grams from Rs 30,180 previously.

Silver ready (.999 fineness) spurted by Rs 1,030 per kg to finish at Rs 55,700 as against Rs 54,670 yesterday.

In New York, gold ended higher after trading in a narrow range as cautious investors awaiting actions from policy— makers.

Gold for December delivery moved up $3.60 to $1,623 an ounce on the Comex division of the NYMEX late yesterday.

Silver for September contract rose 59 cents to $28.59 an ounce.

(This article was published on August 21, 2012)
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