| Gold prices recovered sharply on the bullion market here on Saturday on heavy stockists buying triggered by firming of prices in international markets .
Silver also moved up due to good industrial demand. In New York, gold futures finished up by one per cent on Friday, after the dollar came under renewed pressure as upbeat corporate earnings helped to offset a weak reading on US consumer sentiment.
Gold for December delivery rose by $10.10 to end at $1,116.70 an ounce on the New York Mercantile Exchange.
December silver up by 12 cents to end at $17.38 an ounce.
In the domestic market, standard gold (99.5 purity) strengthened by Rs 145 per ten grams to close at Rs 16,845 from yesterday's closing level Rs 16,700.
Pure gold (99.9 purity) also hardened by Rs 140 per ten grams to settle at Rs 16,925 from Rs 16,785 previously.
Silver ready (.999 fineness) rose by Rs 100 per kilo to finish at Rs 27,600 as against Rs 27,500 on Friday. |
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