Gold tops Rs 29k mark, silver strengthens too
Gold prices zoomed past the Rs 29,000-level by surging Rs 50 per 10 grams at the bullion market today on increased buying by jewellers to meet the ongoing wedding season demand.
Silver too reclaimed the Rs 42,000 mark by rising Rs 695 per kg due to increased offtake by industrial units and coin-makers.
Standard gold (99.5 purity) gained by Rs 50 to end at Rs 29,010 per 10 grams as against yesterday's closing level of Rs 28,960.
Pure gold (99.9 purity) also rallied by a similar margin to conclude at Rs 29,160 per 10 grams as against Rs 29,110 previously.
Silver (.999 fineness) spurted by Rs 695 to finish at Rs 42,440 compared with Rs 41,745 yesterday.
On the global front, gold slipped off a more than one-week high as the dollar firmed ahead of an interest rate decision by the US Federal Reserve which is expected to provide clues on monetary policy this year.
Spot gold was slightly lower at USD 1,210.61 an ounce at early trade, after hitting USD 1,215.31 in the previous session.
Spot silver inched 0.3 per cent to USD 17.58 an ounce, after touching its highest in more than 11 weeks at USD 17.61.