Moderate recovery in gold prices, silver eases

Gold prices recovered moderately at the bullion market in Mumbai today due to fresh local buying interest amidst higher advices in New York.

Gold prices recovered moderately at the bullion market in Mumbai on Friday due to fresh local buying interest amidst higher advices in New York.

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"There is mild local buying interest for yellow metal at lower level, which helped the market to recover slightly," traders said.

Meanwhile, silver eased owing to lack of industrial support.

Standard gold (99.5 purity) moved up by Rs 25 per ten grams to close at Rs 17,770 from yesterday's closing level of Rs 17,745.

Pure gold (99.9 purity) also looked up by a similar margin to end at Rs 17,860 from Rs 17,835 previously.

Silver ready (.999 fineness), however, softened by Rs 15 per kilo to finish at Rs 28,825, as against Thursday's closing level of Rs 28,840.

In New York, gold for August delivery gained by USD 8 to USD 1,168.40 an ounce on the Comex division of the NYMEX.

September silver up by 18 cents to USD 17.62 an ounce.