Mumbai: Gold prices recovered at the bullion market here on Monday on fresh local buying interest along with festival demand amid higher European advices.
Silver too moved up on increased demand from industrial users.
Standard gold (99.5 purity) rose by Rs60 per ten grams to close at Rs16,505 from last weekend’s closing level of Rs16,445.
Pure gold (99.9 purity) also finished higher by a similar margin of Rs60 per ten grams to Rs16,590 as against Rs16,530 previously.
Silver ready (.999 fineness) edged up by Rs25 per kilo to conclude at Rs27,000 from Rs26,975.
In London, spot gold bid at $1,102.80 an ounce in early trade as against $1,099.50 late in New York on Friday.
US gold futures for April delivery up by $1.10 to $1,102.80 an ounce on the Comex division of the NYMEX.
Silver was bid at $16.95 an ounce as against $17.02.