Gold recovers marginally, silver advances further

Gold prices recovered on fresh local demand triggered by higher global cues, while silver moved up further on persistent industrial buying on the bullion market here today.
Standard gold (99.5 purity) rose marginally by Rs 48 to Rs 30,360 per 10 grams at 1700 hrs from the overnight level of Rs 30,312.
Pure gold (99.9 purity) moved up by Rs 58 to Rs 30,540 per 10 grams from Rs 30,482 yesterday, according to Riddisiddhi Bullions Ltd.
Silver ready (.999 fineness) rose further by Rs 150 to Rs 47,200 per kg from 47,050 yesterday, it said.
On the global front, gold rose to six-month highs in US market, buoyed by lower equity markets on mounting tensions between Russia and West over Ukraine amid worries of an economic slowdown in China.

Spot gold rose to USD 1,370.95 an ounce in early trade and spot silver gained to USD 21.28 an ounce.