Gold prices rise for third day, silver prices recover
Standard gold prices moved up further by Rs255 to close at Rs27,585 per 10 grams from the previous session's closing level of Rs27,330
Mumbai: Gold prices continued to rule firm at the bullion market in Mumbai on Tuesday on persistent local demand coupled with higher global cues, while silver recovered on fresh demand from stockists.
Standard gold (99.5 purity) moved up further by Rs255 to close at Rs27,585 per 10 grams from the Tuesday’s closing level of 27,330. Pure gold (99.9 purity) also hardened by a similar margin to end at Rs27,735 per 10 grams from Rs27,480 previously. Silver (.999 fineness) recouped by Rs835 per kg to finish at Rs39,575 from Rs38,740.
In the overseas market, gold prices snapped back on Tuesday after ending the pre-holiday session higher but with a seventh straight weekly decline, its longest such losing streak in more than 12 years.
Gold futures for February delivery went up by $10.90, or 1%, at $1,144.50 in light volume.
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