Gold rebounds on global cues
Buying in gold picked up as prices rebounded in the overseas market on dollar weakness, traders said.
Gold rebounded by Rs220 to Rs17,100 per 10 gm here today, due to fresh buying triggered by a firming global trend on a weakening dollar.
Buying in gold picked up as prices rebounded in the overseas market on dollar weakness, traders said.
Meanwhile, gold surged by USD7.60 to USD1,137 an ounce in New York last evening on reports of a fall in jobless data, indicating a recovery in the global economy.
Standard gold and ornaments bounced back by Rs220 each to Rs17,100 and Rs16,950 per 10 gm, respectively. They had fallen by Rs220 each in previous day's trading. Sovereign held steady at Rs14,000 per 8gm piece.
In line with a general recovery trend, silver ready shot up by Rs400 to Rs28,550 per kg and weekly-based delivery by Rs225 to Rs28,225 per kg.
Silver coins also gained Rs100 to Rs33,800 for buying, and Rs33,900 for selling of 100 pieces.