Gold remains bullish on consistent buying

Mumbai, Jun 12 : Gold remained bullish for the fourth straight session in the domestic bullion market today on consistent buying from stockists and increased local interest.Silver also moved up on higher industrial demand.

Standard gold (99.5 purity) rose by Rs 55 to conclude at Rs 26,855 per 10 grams from Wednesday’s closing level of Rs 26,800.Pure gold (99.9 purity) also edged up by the same margin to end at Rs 27,005 per 10 grams as compared to Rs 26,950.Silver (.999 fineness) gained Rs 40 to finish at Rs 41,605 per kg as against Rs 41,565 yesterday.

At the global front, the yellow metal traded near a two-week high amid caution ahead of the latest US retail sales and weekly jobless data later in the day. Spot gold was bid higher at USD 1,260.60 an ounce in early European trade.