Gold recovers on firm buying, silver slips further

Gold recovered smartly at the bullion market here today on renewed demand from stockists and jewellers in the midst of festive and wedding buying.
Silver, however, weakened further owing to persistent selling on the back of subdued industrial demand.
Standard gold (99.5 purity) shot up by Rs 190 to close at Rs 26,755 per 10 grams from Thursday's level of Rs 26,565.
Pure gold (99.9 purity) also rose by a similar margin to end at Rs 26,905 per 10 grams from Rs 26,715.
However, silver (.999 fineness) moved down by Rs 45 to finish at Rs 39,825 per kg as against Rs 39,870 yesterday.

On the global front, gold edged down as investors remained wary that a strong dollar and rebounding shares could drive prices through an important support level at USD 1,200 an ounce, but prices still looked set to snap a three-week losing streak.
Spot gold was down USD 1,219.40 an ounce, while silver rose by USD 17.52 an ounce in early trade.