Mumbai: Rising for the second straight day, gold reclaimed Rs 29,000 mark by rising Rs 365 to Rs 29,085 per 10 grams, nearly two-week high at the domestic market here today tracking a firming global trend amid higher offtake by investors and jewellers.
Silver also extended the gain and added Rs 275 to Rs 37,800 per kg following speculative buying from industrial units. Standard gold (99.5 purity) surged by Rs 365 to finish at Rs 29,085 per 10 grams from yesterday’s closing level of Rs 28,720.
Pure gold (99.9 purity) also rose by a similar margin to end at Rs 29,235 per 10 grams as compared to Rs 28,870 earlier.
Silver (.999 fineness) climbed by Rs 275 per kg to finish at Rs 37,800 from Rs 37,525 yesterday. Globally, gold prices held ground above USD 1,230 an ounce, acting as foil against risk alongside top-rated government bonds as oil’s fall rippled into global equity markets.
Spot gold rose to USD 1,232.41 an ounce in early trade, after gaining 1.5 percent in the previous session. Among other precious metal, silver eased 0.5 percent to USD 15.20.
