Gold, silver prices gain on renewed demand, global cues

Breaking its uninterrupted five- session downtrend journey, gold staged a modest rebound at the domestic bullion market today on emergence of fresh buying from stockists and jewellers on better overseas cues.

The shiny-metal had lost a whopping Rs 1,225 per 10 grams in recent sell-off to hit a fresh three-week low.

Silver also regained on the back of speculative interest amid higher industrial demand.

Standard gold (99.5 purity) rose by Rs 125 per 10 grams to end at Rs 31,400 from last Saturday's closing level of Rs 31,275.

Pure gold (99.9 purity) firmed up by Rs 110 per 10 grams to finish at Rs 31,540 from Rs 31,430.

Silver ready (.999 fineness) hardened by Rs 375 per kg to conclude at Rs 63,110 as compared to Rs 62,735 last weekend.

On the global front, gold edged higher on bargain hunting amid weak dollar, but uncertainty about US budget talks kept momentum under check.

Spot gold was bid higher at USD 1,718.90 an ounce in early trade in Europe.

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