Gold bounces back on fresh offtake; silver at Rs 43k level

Mumbai: Gold prices recovered after a brief overnight fall at the domestic bullion market on renewed demand from jewellery stockists and retail investors. Silver also rallied sharply to reclaim the Rs 43,000 per kg mark on heavy speculative buyout amid good industrial buying. Standard gold (99.5 purity) spurted by Rs 195 to finish at Rs 27,535 per 10 grams from Tuesday's level of Rs 27,340. Pure gold (99.9 purity) also climbed by a similar margin to end at Rs 27,685 per 10 grams from Rs 27,490.

Silver (.999 fineness) jumped by Rs 510 to conclude at Rs 43,295 per kg against Rs 42,785 on June 19. Meanwhile, globally, the shiny metal eased slightly from its multi-week high on the back of strengthening dollar amid investor caution ahead of the FOMC decision. Spot gold was lower at USD 1,268 an ounce in early European trade.