Gold edges higher on renewed buying, silver declines
Gold prices rebounded after a brief overnight fall at the domestic bullion market here on increased off take by jewelers and retailers.business Updated: Jun 12, 2015 21:01 IST
Gold prices rebounded after a brief overnight fall at the domestic bullion market here on increased off take by jewelers and retailers.
On the other hand, silver remained under intense selling pressure for the third-straight session owing to sustained speculative unwinding.
Standard gold (99.5 purity) rose by Rs 55 to settle at Rs 26,710 per 10 grams from Thursday's level of Rs 26,655.
Pure gold (99.9 purity) also gained by a similar margin to end at Rs 26,860 per 10 grams as compared to Rs 26,805.
However, silver (.999 fineness) shed Rs 160 to finish at Rs 37,280 per kg from Rs 37,440 yesterday.
Globally, the shiny metal traded a shade higher on bargain hunting despite stronger dollar value even as eyed the release of US consumer sentiment data later in the day after Thursday's positive retail sales report.
Spot gold was little changed at USD 1,181.00 an ounce in early European trading, while silver quoted weak at USD 15.88 an ounce.