Mumbai:- Gold prices strengthened for the fourth session at the domestic bullion market here on sustained demand from stockists, supported by a surge in international markets.
Silver also gained due to increased offtake by industrial units.
Standard gold (99.5 purity) jumped by Rs 205 to end at Rs 29,215 per 10 grams against yesterday’s closing level of Rs 29,010.
Pure gold (99.9 purity) also rallied by a similar margin to conclude at Rs 29,365 per 10 grams as against Rs 29,160 previously.
Silver (.999 fineness) rose Rs 240 to finish at Rs 42,680 compared with Rs 42,440 yesterday.
Globally, gold hit its highest since mid-November after the US Federal Reserve gave no clear signal on the likelihood of a March interest rate increase in its latest statement, prompting another drop in the dollar.
Spot gold rose to its highest since Nov 17 at USD 1,223.62 an ounce and was up 1.1 per cent at USD 1,222.56 at early trade.
Among other precious metals, silver was up 1.2 per cent at USD 17.72 an ounce.
PTI
