Gold, silver rebound on global cues

Mumbai, Sep 17: Both the precious metals, gold and silver, rebounded smartly after two session downtrend at the domestic bullion market here today on renewed buying by speculators and investors, fuelled by strong bounce back at the global market.

At the international market, precious metals rallied on hectic weekend low level buying amidst ongoing economic uncertainty in Eurozone and elsewhere.

Standard gold (99.5 purity) shot up by Rs 430 per 10 gram to end at Rs 27,800 from Friday's close of Rs 27,370.

Pure gold (99.9 purity) also surged by Rs 410 per 10 gram to close at Rs 27,910 from Rs 27,500 previously.

Silver ready (.999 fineness) jumped by Rs 830 per kilo to finish at Rs 64,425 as against Rs 63,595 on Friday.

In New York, gold for December delivery rose USD 33.30 to USD 1,814.70 an ounce on the Comex division of the NYMEX on Friday. December silver contract was also up by USD 1.33 to USD 40.83 an ounce.

PTI