Gold, silver recover on jewellers' buying, global cues

Gold rose for the second day by adding Rs 110 per ten grams at the bullion market here today in tandem with a firming global trend amid increased buying by traders and stockists.

However, silver recovered by Rs 235 to settle at Rs 38,640 per kg on scattered buying support from industrial units.

Standard gold (99.5 purity) rose by Rs 110 to close at Rs 28,695 per 10 grams from Wednesday's closing level of Rs 28,585.

Pure gold (99.9 purity) also moved up by a similar margin to conclude at Rs 28,845 per 10 grams from Rs 28,735.

Silver (.999 fineness) shot-up Rs 235 to end at Rs 38,640 per kg as against Rs 38,405 yesterday.

Globally, gold rose benefiting from risk aversion as weaker oil prices dented stocks while the dollar retreated.

Spot gold gained 0.4 per cent to USD 1,250.98 per ounce at early trade. It had added 0.3 per cent in the previous session after briefly touching a five-week low of USD 1,240.75.

Among other precious metals, silver gained 1 per cent to USD 16.61 per ounce.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)