You are using an older browser version. Please use a supported version for the best MSN experience.

Gold prices recover marginally on global cues

LiveMint logoLiveMint 22-05-2017 PTI

Mumbai: Gold prices recovered marginally at the domestic bullion market here today on mild demand from jewellery stockists and retailers, amid firm global cues. Silver also staged a recovery, climbing Rs 260 per kg on emergence of buying by industrial units.

Standard gold price s(99.5 purity) rose by Rs 5 to close at Rs 28,640 per 10 grams from last Friday’s level of Rs 28,635.

Pure gold prices (99.9 purity) also moved up by a similar margin to end at Rs 28,790 per 10 grams against Rs 28,785 previously. Silver (.999 fineness) gained Rs 260 per kg to finish at Rs 39,640 compared to Rs 39,380 earlier.

Globally, gold prices edged higher after its biggest weekly rise in five weeks, with political turmoil in the United States fuelling demand for bullion as a safe haven and reducing expectations of aggressive US interest rate rises this year.

Also Read: Donald Trump woes seen as double-edged sword for gold if inflation cools

Spot gold prices were up 0.1% at $1,255.96 an ounce at early trade. In other precious metals, silver was up 0.9% at $16.96 an ounce, having touched $17.13 an ounce, its highest since 1 May.

More From LiveMint

image beaconimage beaconimage beacon