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Gold Bounces Back On Good Buying, Silver Down On Moderate Demand

Snapping its two-day falling trend, gold bounced back at the bullion market here today, amid fresh buying by stockists and jewellers. However, silver eased by Rs 355 to Rs 39,930 per kg. Standard gold (99.5 purity) rose by Rs 35 to close at Rs 28,860 per 10 grams from Wednesday’s closing level of Rs 28,825. Pure gold (99.9 purity) also moved up by a similar margin to conclude at Rs 29,010 per 10 grams from Rs 28,975.

However, silver (.999 fineness) eased by Rs 355 to settle at Rs 39,930 per kg against Rs 40,285 earlier. Globally, gold dipped, pressured by a slightly firmer dollar, but many investors were on the sidelines ahead of key US data that is expected to provide further clues about whether rates will rise this month.

Spot gold was down 0.2 per cent at $1,266.06 per ounce at early trade. On Wednesday, it touched a session high of $1,273.74 an ounce, its strongest since April 25. Among other precious metals, silver fell 1.1 per cent to $17.10 an ounce.

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