Gold prices bounced back by Rs 150 per ten grams on the bullion market in Mumbai on Monday on fresh local buying interest in view of fast approaching "Diwali" festival.Silver also strengthened in line with gold prices. Higher advices from global market also boosted the market sentiment. Gold prices rose in London as a weakening dollar and gains in crude oil increased the metal''s allure as a hedge against declines in the US currency and faster inflation.Gold for immediate delivery rose by $21.48 per ounce to $804.83 an ounce in London.
for December delivery gained by $18.70 an ounce to USE 806.40 in electronic trading on the Comex division of the New York Mercantile Exchange.In the local market, standard gold (99.5 purity) rose by Rs 150 per ten grams to Rs 12,735 from the last weekend''s level of Rs 12,585.Pure gold (99.9 purity) also rose to Rs 12,800 from Rs 12,640.Silver ready (.999 fineness) moved up by Rs 90 per kilo to Rs 18,065 from Rs 17,975.
for December delivery gained by $18.70 an ounce to USE 806.40 in electronic trading on the Comex division of the New York Mercantile Exchange.In the local market, standard gold (99.5 purity) rose by Rs 150 per ten grams to Rs 12,735 from the last weekend''s level of Rs 12,585.Pure gold (99.9 purity) also rose to Rs 12,800 from Rs 12,640.Silver ready (.999 fineness) moved up by Rs 90 per kilo to Rs 18,065 from Rs 17,975.
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