Mumbai:- Rising for the second straight day, gold prices strengthened further at the domestic market here today tracking a firming global trend amid higher offtake by investors and jewellers.
Elsewhere, silver also recovered to reclaim the key Rs 37,000 mark in the face of speculative offtake coupled with good industrial demand.
Standard gold (99.5 purity) rose by Rs 245 to finish at Rs 28,980 per 10 grams from last Friday’s closing level of Rs 28,735.
Pure gold (99.9 purity) also gained by a similar margin to end at Rs 29,130 per 10 grams as compared to Rs 28,885 earlier.
Silver (.999 fineness) jumped by Rs 720 per kg to finish at Rs 37,340 from Rs 36,620 previously.
Globally, gold prices rose to their highest in almost three weeks on Monday, setting the market on course towards USD 1,300 an ounce, drawing confidence from continued ultra-low interest rates.
Spot gold hit USD 1,254.06 an ounce in early trade, its highest since March 22, before retreating slightly to USD 1,249.56 in early European trade, up 0.7 per cent.
In other precious metals, silver gained about 1.4 per cent to USD 15.57 an ounce.
PTI
