Gold, silver prices recover on global cues

MUMBAI: Both the precious metals recovered at the bullion market here today on fresh buying by stockists and jewellers following a rebound in global markets.

Standard gold (99.5 per cent purity) moved up by Rs 25 per 10 grams to end at Rs 20,405 from overnight closing level of Rs 20,380.

Pure gold (99.9 per cent purity) also looked up by a similar margin to close at Rs 20,505 per 10 grams as compared to Rs 20,480 previously.

Silver ready (.999 fineness) firmed up by Rs 110 per kg to finish at Rs 45,380 from Rs 45,270 yesterday.

In New York, gold futures rebounded to close higher on the back of weakening dollar.

Gold for February delivery gained by USD 8.20 to USD 1,379.20 an ounce at the Comex division of NYMEX yesterday.

Silver for March delivery rose by 35 cents to USD 29.13 an ounce.