Gold price ends with modest gains,silver spurts

Gold recovered modestly after a three-session losing spree at the domestic bullion market today on mild investor off-take and stray buying interest at the existing level on the back of higher overseas cues.

Written by Agencies | Mumbai | Published: July 13, 2012 7:44 pm

Gold price recovered modestly after a three-session losing spree at the domestic bullion market today on mild investor off-take and stray buying interest at the existing level on the back of higher overseas cues.

Silver spurted on heavy speculative demand following renewed industrial buying.

Standard gold (99.5 purity) moved up by Rs 30 to close at Rs 29,170 per 10 grams from Thursday’s closing level of Rs 29,140.

Pure gold (99.9 purity) gained Rs 25 to finish at Rs 29,300 per 10 grams from Rs 29,275.

Silver ready (.999 fineness) surged by Rs 655 per kg to conclude at Rs 53,000 from Rs 52,345 previously.

In Europe,gold rose in line other commodities on positive Chinese growth data,though cautiousness following doubts over US economic stimulus capped gains.

Spot gold was bid higher at USD 1,579.40 an ounce in early trade. Silver was also bid up at USD 27.34 an ounce.

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