Free Press Journal

Gold edges up on renewed off-take, silver rebounds


Mumbai: Gold prices gained marginally here today due to renewed stockists as well as retail buying support despite weak overseas sentiment.

Silver recovered sharply on the back of heavy speculative demand, coupled with increased demand from industrial users.

Standard gold (99.5 purity) advanced by Rs 28 to quote at Rs 29,380 per 10 grams at 1700 hrs from last Saturday’s level of Rs 29,352, a bullion trader said.

Pure gold (99.9 purity) also moved up by a same margin to Rs 29,530 per 10 grams from Rs 29,502 previously, according to Riddisiddhi Bullions Ltd.

Silver (.999 fineness) rose by Rs 240 to Rs 43,073 per kg at 1700 hrs as compared with Rs 42,833 last weekend.      Meanwhile, the shiny metal slipped to multi-week low in choppy amid holiday thinned trade in Singapore following consistent investors and funds selling.

All major world markets are closed today for Easter Monday.

Spot gold was bid down at USD 1,286.30 an ounce in early trade.0 by 0641 GMT.