Silver prices bounced back by Rs 345 per kilo on the bullion market in Mumbai on Friday due to heavy buying after a smart rise in the global prices. Gold also recovered smartly on fresh bouts of stockists' buying.
Ready silver (.999 fineness), after a strong start at Rs 9,370, rose further to close at Rs 9,375, showing a handsome recovery of Rs 345 over yesterday's close of Rs 9,030.
In London, silver rose smartly to $5.95 per ounce from the previous level of $5.57, while in New York, the metal firmed up to $5.83 per ounce late on Thursday from the previous day's close of $5.55, they said.
Standard gold (99.5 purity) resumed firm at Rs 5,725 and edged up further on persistent support, before closing at Rs 5730, showing a smart rally of Rs 70 over yesterday's close of Rs 5,660.
Pure gold (99.9 purity) also started firm at Rs 5,770 and after rising further, closed at Rs 5,780, displaying a similar gain over the last day's close of Rs 5,710.