Gold price recovers on investors’ off-take,silver dropshttps://indianexpress.com/article/news-archive/web/gold-price-recovers-on-investors-offtake-silver-drops/

Gold price recovers on investors’ off-take,silver drops

Gold prices recovered smartly at the domestic bullion market today on good buying interest from investors and traders at the existing lower levels despite a fall in overseas.

Gold prices recovered smartly at the domestic bullion market today on good buying interest from investors and traders at the existing lower levels despite a fall in overseas.

The yellow metal fell to a one-month low last weekend,mustering buying enthusiasm among traders amid approaching festivities and wedding season,dealers said.

Meanwhile,silver dropped further,witnessing hectic speculative profit-selling.

Standard gold (99.5 purity) rose Rs 120 per 10 grams to close at Rs 31,060 from last Saturday’s closing level of Rs 30,940.

Pure gold (99.9 purity) also gained by a similar margin of Rs 120 per 10 grams to conclude at Rs 31,200 from Rs 31,080.

Advertising

However,silver ready (.999 fineness) slid by Rs 410 per kg to finish at Rs 61,090 from Rs 61,500.

In Europe,gold fell on strong dollar after positive US employment figures amid fresh concern over global economy.

Spot gold was bid down at USD 1,770.10 an ounce in early trade and silver was bid lower at USD 33.88 an ounce.