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Gold rebounds on global cues, silver remains weak

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Press Trust of India Mumbai
Gold prices rebounded at the bullion market here today, in line with a firming trend overseas and on scattered buying by local jewellers.

However, silver eased further by Rs 155 to Rs 38,405 per kg.

Standard gold (99.5 purity) rose by Rs 35 to close at Rs 28,585 per 10 grams from Tuesday's closing level of Rs 28,550.

Pure gold (99.9 purity) also moved up by a similar margin to conclude at Rs 28,735 per 10 grams from Rs 28,700.

However, silver (.999 fineness) eased by Rs 155 to settle at Rs 38,405 per kg against Rs 38,560 earlier.

Globally, gold rose from a five-week low in the previous session as a slump in oil prices pushed down stock markets and US bond yields, while the US dollar weakened, making bullion cheaper for holders of other currencies.
 

Spot gold was up 0.3 per cent at USD 1,246.86 an ounce at early trade.

In other precious metals, silver was flat at USD 16.46 an ounce, hovering a near six-week low hit in the previous session.

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First Published: Jun 21 2017 | 6:22 PM IST

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