Gold, silver rise on good buying, global cues

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Mumbai, Sept 6 (PTI): Gold prices climbed by Rs 320 per 10 gram at the bullion market here today on increased buying by jewellers and retail consumers amid bullish global cues.

Silver prices, too, attracted increased buying support from industrial units. Standard gold (99.5 per cent purity) moved up by Rs 320 to close at Rs 30,585 per 10 gram from Wednesday’s closing level of Rs 30,265.

Pure gold (99.9 per cent purity) also rose by a similar margin to end at Rs 30,735 per 10 gram as against Rs 30,415 previously. Silver (.999 fineness) climbed by Rs 405 per kg to close at Rs 36,820 as compared to Rs 36,415 earlier.

Globally, gold clawed higher, propelled by a weaker dollar, short-covering and physical buying in Asia. Spot gold was up by 0.6 per cent at USD 1,203.35 an ounce in an early trade, after rising 0.5 per cent in the previous session.

Among other precious metals, spot silver gained 0.8 per cent to USD 14.27.

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