Gold, silver gains on global cues

Mumbai, Feb 17: Gold prices advanced at the bullion market here today on good stockist as well as investment buying amid better jewellery off-take on the back of higher global cues. Silver also gained on speculative demand following firm industrial off-take.

Standard gold of 99.5 per cent rose by Rs 55 to close at Rs 27,930 per 10 grams from Wednesday's closing level of Rs 27,875. Pure gold of 99.9 per cent purity also went up by Rs 60 to finish at Rs 28,060 per 10 grams as compared to Rs 28,000 previously.

Silver ready (.999 fineness) climbed by Rs 85 per kg to conclude at Rs 56,185 from Rs 56,100 previously.

In New York, gold edged up on bargain hunting amidst higher US macroeconomic data which eased the metals safe-haven appeal. Gold for April delivery moved up 30 cents to USD 1,728.40 an ounce on the Comex division of the NYMEX later yesterday. While silver for March contract lost 4 cents to USD 33.37 an ounce.

PTI