Silver recovers on fresh buying, gold rebounds

Mumbai, Feb 26 (PTI) Silver prices recovered sharply toa new high at the bullion market on hectic speculative buyingamid industrial demand, despite subdued global trend.

The yellow metal too, rebounded owing to heavy marriageseasonal offtake coupled with good investment buying.

Silver ready (.999 fineness) jumped by Rs 730 per kg toend at Rs 50,610 from Friday''s closing level of Rs 49,880.

Standard gold (99.5 purity) rose by 100 per 10 grams toclose at Rs 20,845 from Rs 20,745 yesterday.

Pure gold (99.9 purity) also gained Rs 100 to finish atRs 20,945 per 10 grams as compared to Rs 20,845 previously.

In New York, gold for April delivery fell by USD 6.50 toUSD 1,409.30 an ounce at the Comex Division of NYMEXyesterday.

March silver shed 27 cents to USD 32.90 an ounce.