Silver recovers on speculative off-take, gold ends lacklustre

MUMBAI: Silver prices recovered moderately at the domestic bullion market today on good speculative off-take by investors amidst better industrial buying support.

Gold traded lacklustre in thin trading activity following listless global cues.

Silver ready (.999 fineness) rose by Rs 70 per kg to close at Rs 53,280 from last Saturday's closing level of Rs 53,210.

Standard gold (99.5 purity) edged up Rs 5 to finish at Rs 29,540 per 10 grams from Rs 29,535 previously and Pure gold (99.9 purity) finished stable at Rs 29,670 per 10 gm.

In Europe, gold edged down in choppy trade on lower dollar amidst mild Chinese inflationary data and uncertainty over expectations rate cut following dismal US job report.

Spot gold bid down at $ 1,580.90 an ounce in early trade, while silver was bid up at $ 27.17 an ounce.