Gold edges up on good offtake, silver spurts

Mumbai, Aug 12 (PTI) Gold prices firmed up further at the domestic bullion market here today due to sustained demand from jewellery stockists and retailers. Silver also surged ahead on the back heavy speculative buyout coupled with strong industrial support. Standard gold (99.5 purity) moved up by Rs 35 to end at Rs 28,465 per 10 grams against overnight level of Rs 28,430. Pure gold (99.9 purity) also gained by same margin to settle at Rs 28,615 per 10 grams compared to Rs 28,580. Silver (.999 fineness) jumped by Rs 285 to finish at Rs 44,570 per kg from Monday's closing level of Rs 44,285.

Globally, the shiny metal mostly traded in a tight range as market players continued to monitor geopolitical developments and key US macro data later this week. Spot gold was steady at USD 1,308 an ounce in early European trade.

Read more about: gold, silver
Story first published: Tuesday, August 12, 2014, 18:06 [IST]
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