Gold rebounds on Fed's dovish stance; silver jumps

Gold witnessed a smart recovery at the domestic bullion market here today on emergence of renewed buying from stockists and jewellery traders amid upbeat overseas sentiment.
Silver also rallied on the back of frantic speculative demand as well as good industrial offtake.
Standard gold (99.5 purity) rose by Rs 150 to finish at Rs 26,780 per 10 grams from Wednesday's closing level of Rs 26,630.
Pure gold (99.9 purity) also spiked by a similar margin to end at Rs 26,930 per 10 grams compared to Rs 26,780.
Silver (.999 fineness) surged by Rs 400 to conclude at Rs 37,790 per kg as against Rs 37,390 overnight.

In worldwide trade, the shiny-metal shot-up to reclaim the psychological USD 1,200 benchmark after the US Federal Reserve kept interest rates steady at zero due to lack of economic growth support.
Spot gold was trading substantially higher at USD 1,201.70 an ounce in early European trade, while silver quoted at USD 16.35 an ounce.