Silver, gold bounce back on brisk buying

Posted By: Pti
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Mumbai, Jan 27 (PTI) Silver prices bounced back at thebullion market here today on the back of fresh demand fromspeculators and stockists despite bearish international cues.

Gold too, rebounded smartly on emergence of fresh localbuying interest as well as investment demand at existing lowerlevel amidst ensuing marriage seasons.

Silver ready (.999 fineness) jumped by Rs 910 per kilo toclose at Rs 43,080 from Tuesday''s closing level of Rs 42,170.

Standard gold (99.5 per cent purity) rose by Rs 125 per10 grams to finish at Rs 19,925 from Rs 19,800.

Pure gold (99.9 per cent purity) also went up by asimilar margin of Rs 125 per 10 grams to conclude at Rs 20,025as against Rs 19,900 previously.

In Europe, gold declined on more positive view overeconomic recovery amidst speculations that certain majoreconomies would raise interest rates sooner.

Spot gold was bid at USD 1,337.45 an ounce in earlytrade as against USD 1,346.36 late in New York on Wednesday.

US gold futures for February delivery fell USD 4 to USD1,337.20.

Silver was bid at USD 27.43 an ounce compared to USD27.59.

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