Strong global sentiment driven by weak dollar value along with attractive low level buying interest mainly helped gold prices to recover. Photo: MintMumbai: Gold staged an impressive rebound after a two-day sell-off at the domestic bullion hub in Mumbai on the back of heavy demand from jewellery traders and investment buying amid bullish overseas undertone. Strong global sentiment driven by weak dollar value along with attractive low level buying interest mainly helped gold prices to recover, a bullion trader said. Standard gold (99.5 purity) jumped by a whopping Rs305 to finish at Rs28,960 per 10 grams from Wednesday’s close of Rs28,655. Silver (.999 fineness) surged by a hefty Rs745 to settle at Rs39,000 per kilo against Rs38,255 previously.

Source: Mint August 17, 2017 13:18 UTC