Riding on firm global trends and increased buying by domestic jewellers, gold prices surged by Rs 340 per ten grams at the bullion market here today. Silver too regained Rs 1,120 per kg on increased offtake by industrial units. Standard gold (99.5 purity) climbed by Rs 340 to end at Rs 28,920 per 10 grams from Wednesday's closing level of Rs 28,580. Pure gold (99.9 purity) also moved up by a similar margin to close at Rs 29,070 per 10 grams as compared to Rs 28,730 previously. Silver (.999 fineness) zoomed by Rs 1,120 to finish at Rs 38,995 per kg as against Rs 37,875. Globally, Gold hit the highest levels in two months as the United States and North Korea exchanged more threats, prompting investors to buy bullion as a safe haven asset. Spot gold was up 0.2 per cent at USD 1,279.33 per ounce at early trade after hitting USD 1,280.53 an ounce, its highest level since June 9. In other precious metals, silver rose 1 per cent to USD 17.06 per ounce after hitting USD 17.09, its highest since June 14.
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