Gold, silver recover on heavy stockists demand

After losing for two days, gold prices rebounded by Rs 277 per 10 grams at the domestic bullion market here today on fresh demand from local jewellery stockists.
Silver also rose by Rs 391 per kg on good speculative offtake and industrial demand.
Standard gold (99.5 purity) moved up by Rs 277 to close at Rs 29,755 per 10 grams from Thursday's closing level of Rs 29,478.
Pure gold (99.9 purity) also rose by a similar margin to end at Rs 29,905 per 10 grams as against Rs 29,628 previously.
Silver (.999 fineness) climbed by Rs 391 per kg to close at Rs 39,955 as compared to Rs 39,564 yesterday.

Globally, gold edged lower as some investors took profits ahead of the US payrolls data that will provide clues about the pace of US interest rate rises.
Spot gold was down 0.3 per cent at USD 1,318.16 an ounce at early trade.
Silver was down 0.4 per cent at USD 17.50 an ounce, but on track for a weekly gain of 2.7 per cent.