Gold price snaps seven-day fall, gains Rs 20

Mumbai-India (May 9)  Bringing to an end its 7-day falling streak, gold today recovered marginally on fresh buying by local jewellers, rising Rs 20 to hit Rs 28,570 per 10 grams, aided by a firm global trend.

Globally, gold firmed up 0.07 per cent to USD 1,226.80 an ounce and silver 0.28 per cent to USD 16.25 an ounce in Singapore today.

Bringing to an end its 7-day falling streak, gold today recovered marginally on fresh buying by local jewellers, rising Rs 20 to hit Rs 28,570 per 10 grams, aided by a firm global trend. Silver, on the other hand, continued its slide on slack demand from industrial units and coin makers.

Traders attributed the slight rebound in gold prices to a better trend overseas and fresh buying by local jewellers at the domestic spot market. Globally, gold firmed up 0.07 per cent to USD 1,226.80 an ounce and silver 0.28 per cent to USD 16.25 an ounce in Singapore today.

Source:FinancialExpress