MUMBAI: Gold prices recovered sharply at the bullion market here today to reach Rs 17,155 due to fresh buying from stockists and jewellers on stronger European cues.
Silver also shot up on speculative buying amid good industrial demand to Rs 28,095.
Standard gold (99.5 purity) strengthened by Rs 230 per ten grams to Rs 17,155 from the overnight closing level of Rs 16,925.
Pure gold (99.9 purity) rose by Rs 215 per ten grams to end at Rs 17,240 from Rs 17,025 yesterday.
Silver ready (.999 fineness) hardened by Rs 340 per kg to finish at Rs 28,095 as against Rs 27,755 earlier.
In the overseas markets, gold was up in Europe early today after the euro rose against the dollar.
Spot gold was bid at USD 1,130.50 an ounce in early trade against USD 1,124.40 late in New York on Tuesday.
US gold futures February delivery rose by USD 8.80 to USD 1,131.80 an ounce on the COMEX division of NYMEX.
Silver was bid at USD 17.43 an ounce against USD 17.41.
