Mumbai: Gold prices recovered by Rs 200 per ten grams at the bullion market here today on fresh buying by jewellers and retailers to meet wedding season demand amid firm global cues.
Silver attracted increased buying support from industrial units and surged Rs 720 per kg. Standard gold (99.5 purity) climbed by Rs 200 to end at Rs 29,295 per 10 grams against Tuesday’s closing level of Rs 29,095.
Pure gold (99.9 purity) also added a similar margin to settle at Rs 29,445 per 10 grams from Rs 29,245 earlier. Silver (.999 fineness) shot up by Rs 720 to finish at Rs 41,140 per kg against Rs 40,420 yesterday.
On the global front, the yellow metal rose for the third straight session on Wednesday as weaker-than expected US data weighed on the dollar ahead of the Federal Reserve’s policy decision.
Spot gold was up 0.2 percent at USD 1,245.80 an ounce in early trade. Among other precious metals, silver rose 1.1 per cent to USD 17.34.
