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Both the precious metals, gold and silver, rebounded smartly after a two-session downtrend at the domestic bullion market here today on renewed buying by speculators and investors, fuelled by strong bounceback at the global market.
On the international market, precious metals rallied on hectic weekend low level buying amidst ongoing economic uncertainty in Euro zone and elsewhere.
Standard gold (99.5 purity) shot up by Rs 430 per 10 gram to end at Rs 27,800 from Friday’s close of Rs 27,370.
Pure gold (99.9 purity) also surged Rs 410 for 10 gram to close at Rs 27,910 from Rs 27,500 previously.
Silver ready (.999 fineness) jumped Rs 830 a kg to finish at Rs 64,425 against Rs 63,595 yesterday.
In New York, gold for December delivery rose $33.30 to $1,814.70 an ounce on the Comex division of the NYMEX yesterday.
December silver contract was also up $1.33 to $40.83 an ounce.
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