Gold, silver bounce back on robust buying support

November 8, 2014

New Delhi-India (Nov 8)  Both the precious metals staged a strong comeback from their multi-year lows at the domestic bullion market today as jewellery stockists and investors went on a buying spree following a sharp rally in precious metals worldwide.

 The domestic bullion market went into a tailspin and witnessed a near-term breakdown spooked by a massive rout in global commodity arena in the aftermath of the Fed's decision to wind down its historic bond-buying programme.

 Pure gold (99.9 purity) also recouped with the same margin to end at Rs 25,950 per 10 grams from yesterday's clsing level of Rs 25,510.

Silver (.999 fineness) shot up at a hefty Rs 750 to finish at Rs 36,500 per kg against Rs 35,750 yesterday.

Source:  IndiaTimes

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