Gold, silver rebound on global cues

Mumbai, Sep 28: Gold is back in action after its four-day slide at the domestic bullion market here on Tuesday, with renewed low level buying by investors amid modest jewellery off-take fuelled by a sharp bounce-back at the global level.

Silver staged a recoup with hefty rise on hectic speculative demand on the back of fresh industrial off-take.

In overseas, the precious metals regained more than three per cent on weak dollar with opportunistic investors back to buying after four day losses.

Standard gold (99.5 purity) spurt by Rs 450 per 10 grams to close at Rs 26,675 from Monday's closing level of Rs 26,225.

Pure gold (99.9 purity) surged by Rs 445 per 10 grams to end at Rs 26,800 from Monday's close of Rs 26,355.

Silver ready (.999 fineness) rallied by a massive Rs 5,240 per kg to finish at Rs 57,065 from Rs 51,825 in the previous session.

In London, spot gold traded up at USD 1,672.00 an ounce in early trade, and spot silver was at USD 32.84 an ounce.

PTI