Gold to trade weak
Gold prices firmed up further at the domestic bullion market on Wednesday on good demand from stockists and jewellers on the back of strong global sentiment.
Silver recovered smartly amidst good speculative buying on the back of renewed industrial offtake.
Standard gold of 99.5 per cent purity climbed by Rs 275 to finish at Rs 28,395 per 10 grams from Tuesday’s closing level of Rs 28,120.
Pure gold of 99.9 per cent purity also surged by Rs 280 per 10 grams to conclude at Rs 28,530 from Rs 28,250.
Silver ready (.999 fineness) moved up by Rs 160 per kg to end at Rs 56,310 as against yesterday’s close of Rs 56,150.
In New York, gold rallied on safe-haven buying amidst lingering concerns over euro-zone crisis and US economy.
Spot gold for June delivery added by $16.80 to $1,660.70 an ounce on the Comex division of NYMEX late yesterday. Silver for May delivery also gained by 15 cents to $31.68 an ounce.
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