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Gold and silver prices rebounded smartly at the domestic bullion market on Monday on firm buying by traders and speculators on the back of good local buying interest amid wedding as well as advancing festivals.
Good buying was observed after last weekend’s substantial fall and it is expected to peak in the coming days owing to the festive season, dealers said.
Standard gold (99.5 purity) climbed by Rs 255 per 10 grams to end at Rs 30,635 from last Saturday’s closing level of Rs 30,380.
Pure gold (99.9 purity) surged by Rs 275 per 10 grams to finish at Rs 30,775 from Rs 30,500.
Silver ready (.999 fineness) shot up by Rs 420 per kg to close at Rs 59,200 as compared to Rs 58,780 previously.
In Europe, gold rose on hectic investors’ buying after previous session’s biggest drop, sidelining Tuesday’s US presidential elections.
Spot gold was bid higher at $1,677.69 an ounce, in early trade and silver was bid up at $30.83 an ounce.
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