Gold strengthens on better demand; silver rebounds

Gold prices firmed up for the third straight session at the domestic bullion market today on continued buying interest from jewellery traders and investors amid good seasonal offtake. Silver rebounded sharply on the back of heavy speculative as well as industrial demand.

Standard gold (99.5 purity) rose by Rs 40 to conclude at Rs 26,465 per 10 grams against Monday's closing level of Rs 26,425. Pure gold (99.9 purity) also climbed by Rs 45 to end at Rs 26,615 per 10 grams from Rs 26,570.

Silver (.999 fineness) shot-up by a whopping Rs 520 to finish at Rs 37,550 per kg compared to Rs 37,030 yesterday. On the global front, gold traded marginally higher amid caution ahead of key US macro data.
Spot gold was little changed at USD 1,198.00 an ounce in the early European trade.