Gold recovers on retail buying, silver regains 37K level | business | Hindustan Times
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Gold recovers on retail buying, silver regains 37K level

Gold prices recovered moderately at the bullion market here today on the back of fresh local buying interest coupled with better off-take from jewellery makers despite a bearish trend in global markets.

business Updated: Oct 19, 2010 23:11 IST

Gold prices recovered moderately at the bullion market here on Tuesday on the back of fresh local buying interest coupled with better off-take from jewellery makers despite a bearish trend in global markets.

Silver regained Rs 37,000 a kg level owing to highly speculative driven buying along with industrial demand. Standard gold (99.5 purity) rose by Rs 60 per ten grams to finish at Rs 19,735 from overnight closing level of Rs 19,675. Pure gold (99.9 purity) gained Rs 65 per ten grams to close at Rs 19,835, as against Rs 19,770 previously.

Silver ready (.999 fineness) shot up by Rs 155 per kilo to conclude at Rs 37,095 from Monday's closing level of Rs 36,940. In New York, gold futures ended slightly higher yesterday as the dollar weakened against major currencies. Gold for December delivery advanced by 10 cents to USD 1,372.10 an ounce.

Silver for December delivery also gained USD 13 cents to USD 24.41 an ounce.