Gold rebounded at the domestic bullion market today on
renewed offtake from retail consumers amid good investment buying. In contrast, industrial metal ended almost
flat in thin trade owing to subdued industrial demand. Standard gold of 99.5 per cent purity rose by
Rs 75 to finish at Rs 27,105 per 10 gm from Tuesday's closing level of Rs
27,030. Pure gold of 99.9 per cent
purity also firmed up by Rs 75 to end at Rs 27,230 per 10 gm from Rs 27,155. Silver
ready (.999 fineness), however softened by Rs 5 to close at Rs 44,995 per kg
from Rs 45,000 yesterday.
Meanwhile, globally,
the shiny metal retreated from the psychologically important $ 1,400 an ounce
mark on strong dollar and ahead of key US macro economic data amid ongoing
concerns about Fed's bond-buying policy. Gold for August delivery slumped $ 14.70 to
conclude at $ 1,397.20 an ounce on the Comex division of the NYMEX late
yesterday and July silver contract fell 31 cents to $ 22.41 an ounce.
Source : Economic Times
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