Gold rebounds on seasonal demand, silver spikes

Gold prices bounced back at the domestic bullion market here today on emergence of buying from jewellery stockists and retailers duly supported by a firming trend in overseas.
Silver also regained some lost ground owing to heavy speculative demand as well as good industrial buying support.
Standard gold (99.5 purity) rose by Rs 90 to conclude at Rs 27,380 per 10 grams from last Saturday's closing level of Rs 27,290.
Pure gold (99.9 purity) also moved up by a similar margin to settle at Rs 27,530 per 10 grams compared to Rs 27,440.
Silver (.999 fineness) jumped by a hefty Rs 705 to finish at Rs 38,755 per kg as against Rs 38,050 last weekend.

In worldwide, the shiny metal rebounded from multi-week low on safe-haven bet on the back of fresh concerns over Greek debt negotiations and also weak dollar value, despite robust US jobs growth data.
Spot gold was bid up at USD 1,240.70 an ounce in early Eurpean trade, while silver rallied 2.1 per cent at USD 17.04 an ounce.