Gold bounces back on brisk buying; silver extends gain

Snapping a two-session downtrend, gold witnessed a sharp rebound at the domestic bullion market today on the back of aggressive buying from stockists and investors aided by strong global sentiment.
Silver rose further and reclaimed the Rs 46,000 per kg mark owing to good speculative off-take and firm industrial demand.
Standard gold of 99.5 per cent purity surged by Rs 310 to end at Rs 27,310 per 10 gm from overnight closing level of Rs 27,000.
Pure gold of 99.9 per cent purity spurted by Rs 300 to conclude at Rs 27,445 per 10 gm from Rs 27,145.
Silver ready (.999 fineness) jumped Rs 435 per kg to finish at Rs 46,095 as against Rs 45,660 yesterday.

Globally, the shiny metal recovered smartly, rallying more than one per cent on heavy short-covering coupled with weak dollar valuation.
Gold for June delivery rose USD 24.90 to settle at USD 1,473.70 an ounce on the Comex division of the NYMEX late yesterday. Silver July contract firmed up to settle at USD 23.93 an ounce.