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Gold, silver bounce back on strong global cues

Gold, silver bounce back on strong global cues
PTI
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First Published: Fri, Feb 04 2011. 07 41 PM IST
Updated: Fri, Feb 04 2011. 07 41 PM IST
Mumbai: Gold and silver prices bounced back smartly at the bullion market on Friday on fresh buying support from speculators and stockists triggered by sharp rebound in global markets.
The yellow metal settled on a two-week high in New York in its overnight trade with escalating Egypt crises and a weakening Euro pulling up the metal again to the safe haven destination.
In domestic trade, standard gold (99.5% purity) recouped by Rs240 per 10 grams to end at Rs20,065 from Thursday’s closing level of Rs19,825.
Pure gold (99.9% purity) also surged by a similar margin of Rs240 per 10 grams to finish at Rs20,165 from Rs19,925 over its previous close.
Silver ready (.999 fineness) jumped by Rs705 per kg to close at Rs44,690 from Rs43,985 yesterday.
Gold futures for April delivery added by $20.90 to $1,353.00 an ounce on the Comex division of the NYMEX on Thursday.
March silver also gained by 44 cents to $28.73 an ounce.
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First Published: Fri, Feb 04 2011. 07 41 PM IST
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