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Gold, silver rebound on fresh stockists buying, global cues

Source : PTI
Last Updated: Fri, Jul 26, 2013 10:39 hrs
Should you buy gold now?<br>

Both the precious metals, gold and silver rebounded in the national capital today on fresh buying by stockists driven by a firm global trend.

While gold recovered by Rs 325 to Rs 28,145 per ten grams, silver gained Rs 125 to Rs 41,350 per kg on increased offtake by industrial units and coin makers.

Traders said fresh buying by stockists in line with a firm global trend, as US economic data backed the case for sustained monetary stimulus, mainly boosted the sentiment.

Gold in Singapore, which normally sets price trend on the domestic front, gained 0.6 per cent to USD 1,341.20 an ounce and silver by 0.5 per cent to USD 20.35 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity rebounded by Rs 325 each to Rs 28,145 and Rs 27,945 per ten grams, respectively.

The yellow metal had lost Rs 545 in last two sessions. Sovereign followed suit and rose by Rs 200 to Rs 24,400 per piece of eight gram.

In line with a general firm trend, silver ready recovered by Rs 125 to Rs 41,350 per kg and weekly-based delivery by Rs 190 to Rs 41,280 per kg. The white metal had lost Rs 895 in the previous two sessions.

Silver coins also spurted by Rs 1,000 to Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.




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