Gold recovers on renewed demand; silver extends gains

Gold recovered smartly by Rs 135 per 10 grams to finish at Rs 29,375 at the bullion market here today on the first trading day of the year 2018 following renewed demand from stockists and retailers.
While, silver extended its gains for the tenth straight session up by another Rs 295 per kg to Rs 38,720 on increased offtake from industrial units and coin makers.
Standard gold (99.5 per cent purity) rose by Rs 135 to close at Rs 29,375 per 10 grams from last Friday's closing level of Rs 29,240.
Pure gold (99.9 per cent purity) also moved up by a similar amount to end at Rs 29,525 per 10 grams compared to Rs 29,390 previously.

Silver (.999 fineness) climbed by Rs 295 to conclude at Rs 38,720 per kg as against Rs 38,425 last weekend.
Overseas, London and New York markets remained closed today on account of "New Year" holiday.