Gold prices advanced modestly at the domestic bullion market today on continued buying by stockists.
The industrial metal rebounded sharply to reclaim the key Rs 42,000 per kg level driven by aggressive speculative demand.
Standard gold of 99.5 per cent purity firmed up by Rs 25 to finish at Rs 28,525 per 10 gm from overnight closing level of Rs 28,500.
Pure gold of 99.9 per cent purity gained Rs 20 to settle at Rs 28,655 per 10 gm from Rs 28,635. Silver ready (.999 fineness) jumped by Rs 525 to conclude at Rs 42,455 per kg from Tuesday’s closing level of Rs 41,930.
Globally, the shiny metal rebounded on back of funds and investors’ buying, though moved cautiously ahead of the US GDP growth data and Federal Reserve’s highly anticipated policy outcome later in the day.
In London, spot gold was bid down at USD 1,331.60 an ounce in early trade.