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Gold recovers on fresh demand; silver strengthens

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Press Trust of India Mumbai

Silver also strengthened to revisit 59K-per kg level owing to heavy speculative off-take.

Standard gold of 99.5 per cent purity rose by Rs 125 per 10 gm to end at Rs 30,335 from Wednesday's closing level of Rs 30,210.

Pure gold of 99.9 per cent purity gained by Rs 120 per 10 gm to close at Rs 30,470 from Rs 30,350.

Silver ready (.999 fineness) climbed by Rs 655 to finish at Rs 59,070 per kg as against Rs 58,415 yesterday.

On the global front, gold rose sharply on safe haven buying amid US Federal Reserve's pledge to continue its aggressive easing policy measures and reports of dip in US growth.

 

In New York, gold for February delivery shot up USD 18.90 to USD 1,679.90 an ounce on the Comex division of the NYMEX late yesterday.

Silver for March contract surged 99 cents to USD 32.18 an ounce.

  

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First Published: Jan 31 2013 | 6:35 PM IST

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