Gold prices bounced back strongly and hit nearly two—week high at the bullion market on Thursday on renewed off—take by stockists and traders amidst positive cues from overseas markets.
Silver also recovered on hectic speculative buying coupled with good industrial demand.
Standard gold of 99.5 per cent purity spurted by Rs 430 to finish at Rs 26,640 per 10 gm from Wednesday’s closing level of Rs 26,210.
Pure gold of 99.9 per cent purity also climbed up by a similar margin to end at Rs 26,775 per 10 gm from Rs 26,345.
Silver ready (.999 fineness) rose by Rs 850 to close at Rs 41,860 per kg from Rs 41,010 previously.
At the global level, gold jumped to a near three—week high on weak dollar after the release of the minutes of US Federal Reserve meet in June indicated continuation of easy monetary stimulus measures by the Central bank.
In London, spot gold was bid higher at $1,282.31 an ounce in early trade and silver bid up at $20.26 an ounce.