Gold prices rebound on increased demand
Mumbai: Snapping a four-session fall, gold prices rebounded at the domestic bullion market here today on fresh buying by jewellery stockists and retailers.
Silver too attracted increased buying support for the second day from industrial units. Standard gold (99.5 purity) moved up by Rs 125 to close at Rs 30,375 per 10 grams from Tuesday's closing level of Rs 30,250.
Pure gold (99.9 purity) also rose by a similar margin to end at Rs 30,525 per 10 grams as against Rs 30,400 previously. Silver (.999 fineness) climbed by Rs 100 per kg to close at Rs 38,445 as compared to Rs 38,345 yesterday.
Globally, Gold prices steadied, supported by safe-haven buying after the sudden dismissal US Secretary of State Rex Tillerson but pressured by a recovering dollar.
Spot gold was flat at USD 1,325.97 per ounce at early trade. Silver rose 0.2 per cent to USD 16.58 per ounce.