Gold, silver recover on fresh demand

Mumbai, Aug 26 (PTI) After falling for four days, goldprices recovered by Rs 85 per ten grams at the domesticbullion market here on fresh demand from jewellery stockistsamid low level of local buying interest supported by betterinternational market. Silver also rose by Rs 110 per kg on good speculativeofftake and industrial demand. Standard gold (99.5 purity) moved up by Rs 85 to close atRs 31,235 per 10 grams from Thursday’s closing level of Rs31,150. Pure gold (99.9 purity) also added by a similar margin toend at Rs 31,385 per 10 grams as against Rs 31,300 previously. Silver (.999 fineness) climbed by Rs 110 a kg to close atRs 44,885 as compared to Rs 44,775 yesterday. On the global front, gold edged higher as markets bracedfor a speech by Federal Reserve chair Janet Yellen later inthe session, which is being closely watched for clues on thedirection of U.S. interest rates. In London, spot gold was up 0.4 percent at USD 1,326.90 anounce in early trade. Silver was up 1.1 percent at USD 18.68 an ounce afterhitting an eight-week low of USD 18.46 on Thursday. PTI RDABK