Gold firms up on increased demand, overseas cues
Mumbai-India (Apr 26) Precious gold strengthened further at the domestic bullion market today on continued buying from stockists and jewellery retailers influenced by better global sentiment.
On the other hand, silver fell back modestly after its recent
sharp upsurge due to profit-taking by speculators amid subdued industrial off-take.
Gold demand is witnessing a steady uptrend following
restocking ahead of the Akshaya Tritiya festival next week amid steady retail
demand in view of ongoing wedding season, a bullion trader commented.
Standard gold (99.5 purity) rose by Rs 90 to conclude at Rs 30,155 per 10 grams from
overnight closing level of Rs 30,065.
Pure gold (99.9 purity) also gained a similar margin to finish at Rs 30,305 per 10 grams from previous level
of Rs 30,215.
Silver (.999 fineness), however, declined by Rs 100 to end at Rs 43,805 per kg as compared to Rs 43,905 yesterday.