On Friday, gold prices bounced back on the bullion market on fresh stockists buying in view of positive global advices. Silver also firmed up in line with gold prices coupled with good demand from industrial users.
Gold prices rose in Tokyo, moving away from the previous day''s one-month low, as oil prices recovered and the euro rebounded against the dollar. Bullion''s safe-haven appeal was reinforced by mounting credit fears on news of further trouble at Bank of America and Citiroup, analysts said. Spot gold was quoted at $823.90/825.90 an ounce, up from $817.45 late in New York on Thursday.
U.S. gold futures were higher in Asia, with futures for February delivery at $823 per ounce, up $15.7 from Thursday''s settlement on the Comex division of the New York Mercantile Exchange. Spot silver also quoted higher at $10.73/10.81 an ounce from $10.58. Turning to the local market, standard gold (99.5 purity) rose by Rs 95 per ten grams to Rs 13,000 from Rs 12,905.Pure gold (99.9 purity) also firmed up to Rs 13,065 from Rs 12,970. Silver ready (.999 fineness) shot up by Rs 250 per kilo to Rs 18,170 from Rs 17,920.
Gold prices rose in Tokyo, moving away from the previous day''s one-month low, as oil prices recovered and the euro rebounded against the dollar. Bullion''s safe-haven appeal was reinforced by mounting credit fears on news of further trouble at Bank of America and Citiroup, analysts said. Spot gold was quoted at $823.90/825.90 an ounce, up from $817.45 late in New York on Thursday.
U.S. gold futures were higher in Asia, with futures for February delivery at $823 per ounce, up $15.7 from Thursday''s settlement on the Comex division of the New York Mercantile Exchange. Spot silver also quoted higher at $10.73/10.81 an ounce from $10.58. Turning to the local market, standard gold (99.5 purity) rose by Rs 95 per ten grams to Rs 13,000 from Rs 12,905.Pure gold (99.9 purity) also firmed up to Rs 13,065 from Rs 12,970. Silver ready (.999 fineness) shot up by Rs 250 per kilo to Rs 18,170 from Rs 17,920.
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