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Gold staged a strong comeback and closed above the 27,000—mark at local bullion market due to heavy offtake from jewellery stockists and retailers supported by strong seasonal demand.
Silver also shot up to a one—month high following frantic speculative as well as industrial uptick.
Standard gold (99.5 purity) jumped by Rs 305 to conclude at Rs 27,210 per 10 grams from Monday’s closing level of Rs 26,905.
Pure gold (99.9 purity) surged by Rs 300 to end at Rs 27,355 per 10 grams against Rs 27,055.
Silver (.999 fineness) went up by a hefty Rs 720 to finish at Rs 38,160 as compared to Rs 37,440 yesterday.
In worldwide trade, the shiny metal sprinted to 12—week high fuelled by safe—haven buying amid rout in crude prices and shifting expectations of imminent US interest rates hike.
Spot gold was substantially higher at $1,238.85 an ounce in early European trading.
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