Gold,silver witness modest gain on better buying

Gold and silver prices gained moderately at the domestic bullion market.

Gold and silver prices gained moderately at the domestic bullion market here today on renewed local buying interest amid speculative offtake on the back firm global sentiment.

Trading in bullion resumed after three days strike against the budgetary proposal to raise duty on gold imports.

Standard gold of 99.5 per cent purity rose by Rs 85 to close at Rs 27,715 per 10 grams from last Friday’s closing level of Rs 27,630.

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Pure gold of 99.9 per cent purity also went up by similar margin to finish at Rs 27,845 per 10 grams from Rs 27,760 previously.

Silver ready (.999 fineness) firmed up by Rs 60 per kg to conclude at Rs 56,720 as against Rs 56,660.

In New York,gold ended higher on bargain hunting following sharp weekly losses.

Gold prices for April delivery added USD 11.50 to settle at USD 1,667.30 an ounce at the Comex devision of the NYMEX late yesterday,while silver for May contract advanced to end at USD 32.96 per ounce.

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