Gold recovers on fresh demand; silver extends slide

Gold recovered modestly on the back of fresh local buying interest supported by firm global cues.
Meanwhile, silver dropped further due to sustained selling pressure from stockists amid lack of demand from industrial users.
Standard gold (99.5 purity) edged up by Rs 10 per 10 grams to Rs 30,510 at 1700hrs from Rs 30,500 on Wednesday and pure gold (99.9 purity) also moved up by Rs 50 per 10 grams to Rs 30,660 from Rs 30,610, according to Riddisiddhi Bullions Ltd.
Silver (.999 fineness), however, slumped by Rs 560 per kg to Rs 46,860 as compared to Rs 47,420 previously.

In the global market, gold rebounded sharply on safe-haven demand amidst mixed US macro economic data in the midst of ongoing political turmoil in Ukraine.
Gold for April delivery gained USD 3.80 to settle at USD 1,331.80 an ounce on the Comex division of the New York Mercantile Exchange.
March silver also moved up by 6 cents to USD 21.31 an ounce.