Gold & Silver

Gold, silver recover on smart buying

PTI Mumbai | Updated on May 07, 2011

Gold and silver prices regained some of the lost ground at the domestic bullion market here on Saturday on the back of fresh buying emerging at lower levels.

Silver ready (.999 fineness) recouped by Rs 1,780 per kg to close at Rs 56,085 from Friday’s closing level of Rs 54,305.

Standard gold (99.5 purity) rose by Rs 130 per 10 grams to end at Rs 21,815 from overnight closing level of Rs 21,685.

Pure gold (99.9 purity) also went up by Rs 135 per 10 grams to finish at Rs 21,920 as compared to Rs 21,785 previously.

In New York, gold managed to recover from Thursday’s steep fall but silver failed to sustain intra-day rise and fell back on thin trade.

Gold for June delivery gained by $10.20 to $1,491.60 an ounce.

However, silver for July delivery declined by $2.63, to $35.29 an ounce on the Comex division of NYMEX.

Published on May 07, 2011

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