Gold, silver recover on renewed buying

Gold prices recovered at the domestic bullion market here today on fresh demand from jewellery stockists amid bullish overseas cues.

Silver also rose by Rs 160 per kg on speculative buying and robust industrial offtake.

Standard gold (99.5 purity) gained by Rs 50 to close at Rs 29,360 per 10 grams from Wednesday's closing level of Rs 29,310.

Pure gold (99.9 purity) also rose by the same amount to end at Rs 29,510 per 10 grams as against Rs 29,460 previously.

Silver (.999 fineness) climbed by Rs 160 per kg to close at Rs 39,270 as compared to Rs 39,110 earlier.

Globally, gold prices inched up, after hitting a two-and-a-half-week low in the previous session, as the dollar eased ahead of a key European Central Bank meeting later in the day.

Spot gold was up 0.2 per cent at USD 1,279.96 an ounce in early trade.

In other precious metals, silver rose 0.5 per cent to USD 17 an ounce.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)