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Friday, May 27, 2011

Silver, Gold Rise on Global Rebound | MCX Tips

Both the precious metals gold and silver regained at the domestic bullion market here today on renewed buying by stockists and investors on the back of rebound in European markets.

In European trade, the precious metals climbed over concerns of Greece''s debt crisis and a weaker dollar, which fuelled investors buying, taking the metals again to safe haven bet.

 Silver ready (.999 fineness) jumped by Rs 995 per kg to end at Rs 57,705 from its overnight closing level of Rs 56,710.
Standard gold (99.5 purity) firmed up by Rs 60 per 10 grams to close at Rs 22,445 from Rs 22,385 yesterday.

Pure gold (99.9 purity) also gained by Rs 55 per 10 grams to finish at Rs 22,545 as compared to Rs 22,490 previously.
In Europe, spot gold was bid at USD 1,525.29 an ounce in early trade from USD 1,518.10 late in New York yesterday.
Spot silver was bid at USD 37.66 an ounce from USD 37.24 previously.
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