Gold ended higher by Rs 500 per ten grams to Rs 12,030, snapping a four-day losing streak, on the bullion market here today on fresh festival demand on the back of higher overseas advices.
Silver also recovered on renewed industrial demand.
Some of the investors might have shifted their funds into bullion from weak stock markets also boosted gold prices to some extent, a dealer said.
Gold finished higher in global market,snapping a three- day losing streak that took it below $ 700 an ounce as safe-haven buying emerged on fears that global stocks markets were heading into a free fall.
US Gold futuers for December delivery settled up by USD 15.60 an ounce to $ 730.30 an ounce on the comex division of the New York Mercantile Exchange.
In the local market, standard gold (99.5 purity) shot up 500/ per 10g to Rs 12,030 from the yesterday's closing Rs 11,530.
Pure gold (99.9 purity) rose to Rs 12,100 from Rs 11,600 previously. Silver ready (.999 fineness) firmed up by Rs 190/Kg to finish at Rs 17,490 from Rs 17,300.
