Gold prices recovered smartly by Rs 100 per ten grams at the bullion market here on Wednesday on the back of fresh buying from stockists and jewellers, triggered by higher global advices.
Silver, too, firmed up on good demand from industrial users.
Standard gold (99.5 purity) shot up by Rs 100 per ten grams to settle at Rs 16,310 from overnight closing level of Rs 16,210.
Pure gold (99.9 purity) hardened by a similar margin to finish at Rs 16,395 against Rs 16,295 yesterday.
Silver ready (.999 fineness) strengthened by Rs 280 per kilo to conclude at Rs 25,270 from Rs 24,990 previously.
At overseas front, gold futures rallied yesterday in New York as dollar finished lower against basket of currencies.
Gold for April delivery rose by USD 11 to USD 1,077.20 an ounce on the Comex division of the NYMEX.
Silver for March delivery gained 35.5 cents, or 2.3 per cent, to USD 15.44 an ounce.
Source: The Economic Times