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Gold jumps on global cues, silver rebounds

Silver witnessed a rebound on increased industrial buying.

PTI 07 Aug 2018, 12:42 PM India

Gold prices jumped at the bullion market here on sustained offtake from investors and jewelry stockists driven by global cues.

Silver witnessed a rebound on increased industrial buying.

Standard gold (99.5 percent purity) advanced by Rs 35 to conclude at Rs 29,530 per 10 grams from yesterday's closing level of Rs 29,495.

Pure gold (99.9 percent purity) also added a similar margin to end at Rs 29,680 per 10 grams compared to Rs 29,645 previously.

Silver (.999 fineness) surged by Rs 215 to conclude at Rs 37,935 per kg as against Rs 37,720.

Globally, gold climbed nearly 1 percent, having drifted near USD 1,200 an ounce this week, as the dollar fell versus the yuan while investors focussed on strong corporate earnings rather than China-US trade tensions.

Spot gold was trading up 0.7 percent at USD 1,214.96 an ounce in early trade.

Silver rose 1.1 percent to USD 15.43 an ounce.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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