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Gold recovers on renewed buying

Mumbai, Sep 14 (PTI) Gold prices rebounded at the bullion market here Friday, tracking a firming trend overseas along with increased buying from stockists and retailers.

Silver prices inched up by Rs 5 per kg to Rs 36,595 on mild demand from industrial units.

Standard gold (99.5 per cent purity) moved up by Rs 110 to close at Rs 30,560 per 10 grams from Wednesday's closing level of Rs 30,450.

Pure gold (99.9 per cent purity) also rose by the same amount to end at Rs 30,710 per 10 gram as against Rs 30,600 previously.

Silver (.999 fineness) gained Rs 5 to finish at Rs 36,595 per kg as compared to Rs 36,590 earlier.

Globally, gold edged higher, lifted by a weaker dollar, but gains were tempered by expectations of a US rate hike later this month.

Spot gold was up by 0.4 per cent at USD 1,206.01 an ounce in early trade.

Meanwhile, spot silver rose 0.4 per cent to USD 14.22 per ounce. PTI RD SHW ABM ABM

Disclaimer: This story has not been edited by BW staff and is auto-generated from a syndicated feed.


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