Gold prices regained previous session loss at the bullion market on Thursday on good demand from traders and retailers at the existing lower levels, also supported by higher global cues.

Silver also recovered modestly on the back of stray speculative buying.

Standard gold of 99.5 per cent purity rose by Rs 120 per 10 gm to close at Rs 30,410 from Wednesday’s closing level of Rs 30,290.

Pure gold of 99.9 per cent purity also climbed by Rs 140 per 10 gm to conclude at Rs 30,550 from Rs 30,410.

Silver ready (.999 fineness) gained by Rs 150 to finish at Rs 58,940 per kg as against Rs 58,790 yesterday.

At the global front, gold closed higher in a narrow trade ahead of European Central Bank meeting (ECB) as well as amid weakness in equities.

In New York, gold for April delivery went up by $5.30 to $1,678.80 an ounce on the Comex division of the NYMEX late yesterday.

Silver settled steady at $31.88 an ounce.

(This article was published on February 7, 2013)
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