Gold, silver firms up on rising global trend

Written by: Pti
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Mumbai, Feb 16 (PTI) Gold prices moved up further at thebullion market here today on good local buying interest amidmarriage seasonal off-take on the back of rising global trend.

Silver too, maintained its bullish momentum owing toconsistent industrial demand.

Standard gold (99.5 per cent purity) edged up by Rs 20per 10 grams to end at Rs 20,370 from overnight closing levelof Rs 20,350.

Pure gold (99.9 per cent purity) also looked up by asimilar margin to settle at Rs 20,470 per 10 grams as againstRs 20,450 previously.

Silver ready (.999 fineness) rose by Rs 50 per kg toclose at Rs 46,950 from yesterday''s closing level of Rs46,900.

In Europe, gold prices climbed to four-week high asdollar weakened amid concerns over the medium-term inflationoutlook.

Spot gold was bid at USD 1,376.14 an ounce in early tradeas against USD 1,372.95 late in New York on Tuesday. US goldfutures for April delivery rose USD 1,376.40 an ounce.

Silver was bid at USD 30.82 an ounce as against USD30.76.

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