Free Press Journal

Gold edges up on stray demand, firm global trend

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Mumbai: Gold prices recovered marginally after a three-session fall at the domestic bullion market here due to good local buying interest amid higher overseas advices. Silver also firmed up on the back of renewed offtake by consuming industries. Standard gold (99.5 purity) moved up by Rs 19 to settle at Rs 25,590 per 10 grams from last Thursday’s closing level of Rs 25,571.

Pure gold (99.9 purity) also gained by a similar margin to end at Rs 25,740 per 10 grams against Rs 25,721. Silver (.999 fineness) rose by Rs 104 per kg to finish at Rs 35,105 compared to Rs 35,001 previously.

In worldwide trade, the yellow-metal witnessed a sharp rebound after plunging to near six-year low on safe haven bids and also hectic short-covering following latest bout of geopolitical angst after the deadly attacks in Paris. Spot was trading substantially higher at USD 1,091.50 an ounce in early European trade, while silver quoted at USD 14.39 an ounce.