Gold prices gain on global cues, jewellers' buying

Mumbai-India (Aug 4)  Gold prices rebounded by Rs 190 to Rs 29,620 per 10 grams at the bullion market today, triggered by a firm trend overseas amid fresh buying by local jewellers.

Silver recaptured the Rs 39,000-mark on the back of increased offtake by industrial units and coin makers.

Traders said besides firm trend overseas, fresh buying by local jewellers to meet festive season demand mainly led to the recovery in prices of precious metals.

Globally, gold rose 0.08 per cent to USD 1,268.90 an ounce and silver by 0.36 per cent to USD 16.71 an ounce in Singapore.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity climbed by Rs 190 each to Rs 29,620 and Rs 29,470 per 10 grams, respectively. The precious metal had lost Rs 220 in the previous three sessions.

IndianExpress