Mumbai, May 4 (PTI): Gold prices recovered slightly after three consecutive losses on fresh buying by local jewellers to meet the ongoing wedding season demand even as the metal weakened overseas.
While, silver firmed up modestly by Rs 5 per kg to Rs 39,180 on mild demand from industrial units.
Standard gold (99.5 per cent purity) moved up by Rs 95 to end at Rs 31,010 per 10 grams from Thursday’s close of Rs 30,915. Pure gold (99.9 per cent purity) also gained by a similar margin to settle at Rs 31,160 per 10 grams against Rs 31,065 yesterday.
Silver (.999 fineness) gained by Rs 5 to finish at Rs 39,180 per kg as compared to Rs 39,175 earlier.
Globally, gold prices dipped as the dollar strengthened ahead of key US jobs data that is expected to underline a strong economy and support the case for more interest rate increases.
Spot gold was trading down 0.2 per cent at USD 1,308.81 an ounce at early trade, heading for a third consecutive weekly decline. Among other precious metals, spot silver fell 0.1 per cent to USD 16.39 an ounce.