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Gold, silver prices rebound on global cues
Gold, silver prices rebound on global cues.Snapping their three-day falling trend, gold prices surged by Rs 375 to trade at Rs 26,375 per 10 grams at the bullion market on brisk buying by jewellers and retailers amid a firm global trend.Silver also spurts by Rs 800 to Rs 36,200 per kg on increased off-take by industrial units and coin makers.
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New Delhi (PTI): Snapping their three-day falling trend, gold prices surged by Rs 375 to trade at Rs 26,375 per 10 grams at the bullion market on brisk buying by jewellers and retailers amid a firm global trend.Silver also spurts by Rs 800 to Rs 36,200 per kg on increased off-take by industrial units and coin makers.
Bullion merchants said besides buying jewellers at prevailing levels, a firm global trend where gold recovered from three-month low after the US Federal Reserve indicated that interest rates may rise at a slower-than-estimated pace, boosted the sentiments here.
Gold in Singapore, which normally sets price trend on the domestic front, rose by 0.9 per cent to $1,177.96 an ounce and silver by 0.2 per cent to $15.97 an ounce.
In the national capital, gold of 99.9 and 99.5 per cent purity climbed by Rs 375 and Rs 325 to Rs 26,375 and Rs 26,175 per 10 grams, respectively.Sovereign, however, held steady at Rs 23,600 per piece of eight grams in limited deals.
