Gold, silver recover on mild demand

Mumbai, Jul 11 (PTI) Gold prices recovered marginally to Rs 30,380 per 10 grams at the bullion market here today due to mild demand from stockist and retailers even as the metal weakened overseas.

Silver too strengthened by Rs 25 per kg due to increased offtake by industrial units.

Standard gold (99.5 purity) edged-up by Rs 10 to settle at Rs 30,380 per 10 grams as against Tuesday's closing level of Rs 30,370.

Pure gold (99.9 purity) also moved up by the same margin to end at Rs 30,530 per 10 grams against Rs 30,520 earlier.

Silver (.999 fineness) rose Rs 25 per kg to finish at Rs 39,130 as against Rs 39,105 previously.

Globally, gold prices slipped as US threats of tariffs on an additional USD 200 billion of Chinese goods pushed safe-haven flows to the dollar.

Spot gold was 0.4 per cent lower at USD 1,249.04 an ounce at early trade.

Silver shed 1 per cent to USD 15.89 an ounce. PTI RD ABM

ABM