Gold prices rebounded sharply at the bullion market in Mumbai on Wednesday on emergence of fresh buying from jewellers and speculators at lower levels in view of positive global cues.
Silver, too, firmed up on persistent demand from industrial users and buying by stockists.
Standard gold (99.5 purity) strengthened by Rs 140 per ten grams to close at Rs 18,720 from Tuesday's closing level of Rs 18,580.
Pure gold (99.9 purity) rose by a similar margin of Rs 140 per ten grams to end at Rs 18,810 as against Rs 18,670 previously.
Silver ready (.999 fineness) hardened by Rs 100 per kilo to finish at Rs 29,805 from Rs 29,705 on Wednesday.
In New York, gold for August delivery up by USD 9.90 to USD 1,234.40 an ounce on the COMEX division of the NYMEX.
Silver for July delivery advanced 17 cents to USD 18.57 an ounce.