Smart recovery in gold, silver on good demand

Gold and silver prices recovered smartly at the bullion market here today due to fresh buying by stockists as well as local demand at existing lower levels.

Standard gold (99.5 per cent purity) gained Rs 130 per 10 grams to close at Rs 20,280 from Friday's closing level of Rs 20,150.

Pure gold (99.9 per cent purity) firmed up by Rs 125 per 10 grams to end at Rs 20,375 as against Rs 20,250 yesterday.

Silver ready (.999 fineness) shot up by Rs 225 per kg to finish at Rs 45,400 from yesterday's closing level of 45,175.

In New York, gold for February delivery lost by $2.80 to conclude at $1,368.90 an ounce on the Comex division of NYMEX yesterday.

Silver for March delivery was down by 46 cents to $28.67 an ounce.