Gold rebounds on stockists demand; silver rallies

Gold prices staged a smart rebound on the bullion market here due to renewed stockists demand as well as seasonal buying support amid firm overseas cues.
Silver also rallied to close above the key Rs 38,000 mark following good industrial offtake.
Standard gold (99.5 purity) spurted by Rs 140 to conclude at Rs 26,775 per 10 grams from last Saturday's closing level of Rs 26,635.
Pure gold (99.9 purity) also surged by a similar margin to end at Rs 26,925 per 10 grams against Rs 26,785.
Silver (.999 fineness) shot-up by a hefty Rs 560 to finish at Rs 38,060 per kilo compared to weekend's level of Rs 37,500.

The bullion makket was closed yesterday on account of Buddha Poornima.
On the global front, the yellow-metal maintained its strong momentum following investors and funds buying after recent sharp sell-off, though some caution prevailed ahead of Friday's US Non-farm payroll data.
Spot gold was substantially higher at USD 1,197.50 an ounce in early European trade, while was quoted at USD 16.61 an ounce.