Gold prices rebound on global cues,silver price surges

Standard gold (99.5 purity) climbed up by Rs 135 to close at Rs 30,040 per 10 grams from Thursday’s closing level of Rs 29,905.

Pure gold (99.9 purity) rose by Rs 130 to end at Rs 30,175 per 10 grams from Rs 30,045.

Silver ready (.999 fineness) spiked by Rs 430 per kg to finish at Rs 54,665 from Rs 54,235 yesterday.

In New York,gold zoomed on weak dollar and technical strength,though the data showing drop in demand for the yellow metal by World Gold Council was discounted as a seasonal blip.

Gold for December delivery jumped USD 12.60 to USD 1,619.20 an ounce on the Comex division of the NYMEX late yesterday.