Gold, silver recover on fresh demand
Gold prices recovered smartly at the bullion market due to fresh buying from stockists and traders amidst local buying support.business Updated: Oct 24, 2010 01:58 IST
Gold prices recovered smartly at the bullion market due to fresh buying from stockists and traders amidst local buying support.
Silver also shot up on renewed demand from industrial users and speculative buying. Standard gold (99.5 purity) firmed up by Rs 110 per 10 grams to end at Rs 19,355 from overnight closing level of Rs 19,245.
Pure gold (99.9 purity) also rose by Rs 120 per 10 grams to close at Rs 19,455, as against Rs 19,335 on Friday.
Silver ready (.999 fineness) hardened by Rs 205 per kilo to finish at Rs 36,095 from Friday's closing level of Rs 35,890.
In New York, gold for December delivery retreated by 50 cents to USD 1,325.10 an ounce on the Comex Division of NYMEX.
Silver for December delivery declined by two cents to USD 23.12 an ounce.