First Published: 19:42 IST Last Updated: 19:43 IST Gold prices recovered moderately at the bullion market in Mumbai on Friday due to fresh local buying interest amidst higher advices in New York.
Gold futures on the COMEX Division of the New York Mercantile Exchange continued to climb on Thursday, benefited from the weaker dollar and a reemergence of physical demand.
Although gold continues to grab most of the attention in the precious metals world, silver, its less glamorous sister, may be more appealing and for good reason.
Mumbai, Jul 30 : A negative trend was witnessed in the precious metals for the third straight day today in the opening trade, with Silver easing by Rs 50 per kg and Gold fell by Rs five per ten, on lack of demand from industrial users alongwith discouraging global cues, traders at the Bombay Bullion Association said today.
Gold prices added to gains Friday after the release of disappointing U.S. growth figures for the second-quarter but the advance remained capped by waning demand for the precious metal as a safe-haven against currency depreciation.
Gold, which surged to a record in June, is headed for the biggest monthly decline this year as evidence of a global economic recovery saps investors' demand for the metal as a store of value.
Apalachicola Bay Sandy Allen at Book Me A Charter Guide Service in Apalachicola said anglers fishing inshore have been doing best early and late in the day.
