Mumbai, May 26: Gold prices recovered smartly, snapping its four-day lustreless trend at the domestic bullion market here today on emergence of renewed buying from stockists and investors backed by firm overseas cues. Silver also regained following speculative demand and good industrial off-take.
Standard gold (99.5 purity) spurted by Rs 135 to end at Rs 29,030 per 10 gm from Friday's closing level of Rs 28,895. Pure gold (99.9 purity) also rose by Rs 140 to finish at Rs 29,170 per 10 gm from Rs 29,030.
Silver ready (.999 fineness) jumped by Rs 330 per kg to conclude at Rs 54,690, as compared to Rs 54,360 yesterday. In New York, gold rose on the back of low level buying as well as some short covering supported by weaker dollar.
Gold futures for the June delivery advanced by USD 11.40 to settle at USD 1,568.90 an ounce at the Comex division of the NYMEX late yesterday.
Silver for July contract edged up by 23 cents to USD 28.39 an ounce.
