Gold recovers on renewed demand, silver slips

Gold prices recovered moderately at the domestic bullion market here today on renewed demand from stockists and investors amidst good jewellery offtake.

In contrast, silver fell on mild speculative selling coupled with reduced industrial demand. Standard gold of 99.5% purity climbed by Rs 90 to finish at Rs 27,985 per 10 grams from last Saturday's closing level of Rs 27,895.

Pure gold of 99.9% purity also went up by Rs 95 per 10 grams to close at Rs 28,115 from Rs 28,020. However, silver ready (.999 fineness) dropped by Rs 45 per kg to end at Rs 56,230 as against weekend's closing of Rs 56,275.