Gold, silver recover on global cues

MUMBAI: Gold prices regained at the bullion market here today on renewed buying by stockists and jewelers following bullish European markets.

Silver also recouped smartly good speculative off-take amidst industrial support.

Overseas, gold rose to a one and half week high on weak dollar amidst agreement over second bailout package for Greece by eurozone finance ministers.

Standard gold of 99.5 per cent spurted by Rs 165 to close at Rs 28,030 per 10 grams from last Saturday's closing level of Rs 27,865.

Pure gold of 99.9 per cent purity also climbed by a similar margin of Rs 165 to end at Rs 28,160 per 10 grams, as compared to Rs 27,995 previously.

Silver ready (.999 fineness) surged by Rs 370 per kg to conclude at Rs 56,520 from Rs 56,150 last weekend.

In London, spot gold was bid up at USD 1,740.35 an ounce in early trade.