Gold crosses Rs 31k-mark, silver rallies

Gold prices today reclaimed the Rs 31,000-mark by climbing Rs 275 per 10 grams to end at Rs 31,095 at the bullion market here today following sustained demand from stockists and retailers amid ongoing festivities.

Silver also rose by Rs 305 per kg to Rs 38,785 on persistent offtake from industrial units.

Standard gold (99.5 per cent purity) climbed by Rs 275 to end at Rs 31,095 per 10 grams from last Friday's closing level of Rs 30,820.

Pure gold (99.9 per cent purity) also moved up by the similar amount to close at Rs 31,245 per 10 grams compared to Rs 30,970 previously.

Silver (.999 fineness) advanced by Rs 305 to conclude at Rs 38,785 per kg as against Rs 38,480 last weekend.

Globally, gold steadied, surrendering gains made in earlier trade as financial markets wagered the latest US-led intervention in Syria would not escalate into a wider conflict.

Spot gold was at USD 1,344.34 an ounce at early trade. Silver was down 0.1 per cent at USD 16.61 an ounce.