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Gold, silver glitter on global cues
Gold today surged by Rs 300 to Rs 29,660 per 10 grams at the bullion market here on fresh buying by jewellers and retailers after the government revoked an order that mandated PAN and Aadhaar cards for purchases above Rs 50,000.
By
migrator
migrator
Mumbai
Silver also rose by Rs 670 per kg on good speculative offtake and industrial demand.
Standard gold (99.5 purity) moved up by Rs 300 per 10 grams to end at Rs 29,660 compared to Friday's closing level of Rs 29,360.
Pure gold (99.9 purity) also rose by a similar margin to settle at Rs 29,810 per 10 grams against Rs 29,510 earlier.
Silver (.999 fineness) climbed by Rs 670 to end at Rs 39,520 per kg as against Rs 38,850 previously.
Globally, gold rose erasing all of the previous week's losses, as a steadier dollar and the resilience of a key chart level removed some downward pressure, while the return of Chinese buyers to the market also lent support.
Spot gold was up 0.5 per cent at USD 1,281.52 an ounce at early trade.
In other metals, silver was up 0.6 per cent at USD 16.88 an ounce.Â
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