Gold & Silver

Gold, silver snaps downtrend; gain on fresh buying

PTI Mumbai | Updated on March 12, 2018 Published on April 18, 2013

Gold prices halted their five- session losing spree and recovered moderately at the bullion market on Thursday on good buying by stockists, traders as well as local buying interest amidst marriage season off—take.

Silver also followed the yellow metal and posted modest gains owing to higher speculative off—take.

Standard gold of 99.5 per cent purity rose by Rs 240 to close at Rs 25,920 per 10 gm from Wednesday’s closing level of of Rs 25,680.

Pure gold of 99.9 per cent purity also gained by a similar margin to finish at Rs 26,060 per 10 grams from Rs 25,820 yesterday.

Silver ready (.999 fineness) climbed up by Rs 550 to conclude at Rs 46,035 per kg from Rs 45,485 previously.

“The yellow metal witnessed seasonal buying after falling to 20—month lows yesterday,” dealers said.

In overseas market, gold surged on sustained physical buying set against exits from exchange—traded funds though key worries over potential sale of the yellow metal by central banks dominated sentiments.

In Europe, spot gold was bid up at $1,396.14 an ounce in early trade and silver was also bid higher at $23.54 an ounce.

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Published on April 18, 2013
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