Gold rebounds on global cues, silver gains

Gold rebounded by Rs 55 per 10 grams to Rs 28,695 at the bullion market here today following renewed demand from stockists and retailers amid bullish global cues.
Silver strengthened modestly by Rs 30 per kg to Rs 37,180 on sustained offtake from industrial units.
Standard gold (99.5 per cent purity) rose by Rs 55 to close at Rs 28,695 per 10 grams from Thursday's closing level of Rs 28,640.
Pure gold (99.9 per cent purity) also moved up by the same amount to finish at Rs 28,845 per 10 grams compared to Rs 28,790 previously.
Silver (.999 fineness) jumped by Rs 30 to conclude at Rs 37,180 per kg as against Rs 37,150 earlier.

Globally, spot gold was up at USD 1,268.1 an ounce in early European trade, while US gold futures gained to USD 1,272.0.
Silver added 0.6 per cent to USD 16.19 an ounce.