BackGold prices rebound on jewellers’ demand, global cues
Standard gold prices moved up by ₹35 per 10 grams to end at ₹28,295 from Monday's closing level of Rs28,260
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Mumbai: Gold prices recovered modestly by ₹ 35 per 10 grams at the bullion market on Tuesday on fresh buying by jewellers, on the back of higher global cues.
Silver rose further due to bullish speculative buying amid good industrial offtake. Standard gold (99.5 purity) moved up by ₹ 35 per 10 grams to end at ₹ 28,295 from Monday’s closing level of ₹ 8,260. Pure gold (99.9 purity) also rose by a similar margin to settle at ₹ 8,445 per 10 grams against ₹ 8,410 earlier. Silver (.999 fineness) jumped by ₹ 330 to conclude at ₹ 1,330 per kg as against ₹ 41,000.
Globally, gold inched up as bargain-hunters moved in after prices touched their lowest in 10 months the session before, but a possible US rate hike as early as next week capped gains. Spot gold was up 0.2% at $1,172.17 an ounce in early trade. It touched $1,157 an ounce on Monday, its lowest since 5 February. Among other precious metals, silver was up 0.3% at $16.77 per ounce.
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