Gold gains further on better demand, silver recovers

Mumbai, Feb 11 (PTI) Gold prices continued to gain at thebullion market here today due to steady retail buying amidmarriage seasonal demand despite bearish global cues.

Silver recovered smartly on the back fresh stockistsbuying coupled with higher industrial offtake.

Standard gold (99.5 per cent purity) rose by Rs 50 per 10grams to end at Rs 20,280 from Thursday''s closing level of Rs20,230.

Pure gold (99.9 per cent purity) also firmed up by asimilar margin to finish at Rs 20,380 as against Rs 20,330yesterday.

Silver ready (.999 fineness) went up by Rs 160 per kg toconclude at Rs 46,135 from overnight closing level Rs 45,975.

In Europe, gold prices eased on rising dollar andimproved economic outlook.

Spot gold was bid at USD 1,358.60 an ounce in early tradeas against USD 1,362.90 late in New York yesterday.

Spot silver was bid at USD 29.95 an ounce as against USD30.19.