Financials News

Gold perks up on global cues; silver recovers

Gold perks up on global cues; silver recovers

Mumbai: Snapping its two-day losing streak, gold prices rebounded at the bullion market here on Wednesday, taking positive leads from global markets amid increased buying by local jewellers.

Silver strengthened by Rs 345 per kg on increased offtake. Standard gold (99.5 purity) rose by Rs 195 to settle at Rs 30,065 per 10 grams from Wednesday’s closing level of Rs 29,870.

Pure gold (99.9 purity) also rose by a similar margin at Rs 30,215 per 10 grams as compared to Rs 30,020 previously.

Silver (.999 fineness) shot-up by Rs 345 to finish at Rs 40,860 per kg as against Rs 40,515 on Tuesday.

Globally, Gold prices edged higher, underpinned by tensions over North Korea, as investors looked ahead to US inflation data on Thursday that will give clues about the pace of US interest rate rises.

Spot gold was up 0.1 per cent at USD 1,332.48 an ounce at early trade.

In other precious metals, silver was flat at USD 17.91 an ounce.