Mumbai Gold staged a modest rebound, snapping a three-session downtrend at the bullion market here on :emergence of fresh buying interest from jewellery stockists mainly because of ongoing festival season demand. Elsewhere, silver also recovered smartly to reclaim Rs 35,000-mark after a brief overnight plunge owing to hectic speculative activity as well as good industrial support.
Standard gold (99.5 purity) rose by Rs 70 to conclude at Rs 25,980 per 10 grams from Tuesday’s close of Rs 25,910. Pure gold (99.9 purity) also moved up by a similar margin to end at Rs 26,130 per 10 grams as against Rs 26,060. Silver (.999 fineness) shot-up by Rs 410 per kg to finish at Rs 35,240 from Rs 34,830 yesterday.
In worldwide trade, the shiny-metal regained some lost ground on bargain hunting even as investors stayed on the sidelines ahead of the Fed rate decision on Thursday. Spot gold was marginally higher at USD 1,109 an ounce in early European trade, while silver quoted at USD 14.53 an ounce.
