Gold regains sheen on renewed off-take by stockists

MUMBAI: Gold prices witnessed a modest rebound from its three-month low at the domestic bullion market here today on fresh buying from jewellers and retailers.

Silver also firmed up on better industrial support. Standard gold (99.5 purity) rose by Rs 75 to conclude at Rs 26,990 per 10 grams compared to last Saturday's closing level of Rs 26,915.

Pure gold (99.9 purity) also climbed by similar margin to settle at Rs 27,140 per 10 grams from Rs 27,065.

Silver (.999 fineness) added Rs 90 to finish at Rs 41,795 per kg as against Rs 41,705 last weekend.

On the global front, the yellow-metal crawled back from its multi-month lows on the back of short-covering and also bargain hunting despite concerns over an earlier interest rate hike by the US Federal Reserve.

Spot gold was modestly up at $1,232.94 in early European trade.