Gold recovers on renewed buying, Silver crosses Rs 43K-mark

Snapping its two-day falling streak, gold prices recovered by Rs 95 per 10 grams at the bullion market here on Tuesday, tracking a firm trend overseas amid renewed buying by jewellers.

Silver also rose by Rs 205 per kg on good speculative offtake and industrial offtake.

Standard gold (99.5 purity) moved up by Rs 95 to close at Rs 30,055 per 10 grams from Monday's closing level of Rs 29,960.

Pure gold (99.9 purity) also rose by a similar margin to end at Rs 30,205 per 10 grams as against Rs 30,110 previously.

Silver (.999 fineness) climbed by Rs 205 per kg to close at Rs 43,135 as compared to Rs 42,930 earlier.

Globally, gold rose as the dollar eased from nine-month highs but an increasing probability of a US interest rate hike kept a lid on prices.

Spot gold was up 0.4 per cent at USD 1,269.05 an ounce in early European trade. It has traded in a narrow USD 6.60 per ounce range for the past five sessions.

Silver was up 0.9 per cent at USD 17.71 an ounce. It touched a more than two-week high of USD 17.88 in the previous session.