Gold edges higher on stray buying, silver also advances

Gold prices gained modestly at the bullion market here today on stray retail buying support as well as offtake by jewellery stockists.
Silver also moved up on renewed demand from industrial units and coin makers.
Standard gold of 99.5 per cent purity advanced by Rs 15 to settle at Rs 30,965 per 10 grams from overnight closing level of Rs 30,950.
Pure gold of 99.9 per cent purity also added similar margin to end at Rs 31,115 per 10 grams from Rs 31,100.
Silver ready (.999 fineness) firmed up by Rs 50 to finish at Rs 49,050 per kg from Friday's close of Rs 49,000.

On the global front, the yellow metal fell back on some profit-taking after a spectacular relief rally, following the US government budget deal amid investor caution, ahead of release of key macroeconomic data next week.
Gold for December delivery shed USD 8.40 to finish at USD 1,314.60 an ounce on the Comex division of the NYMEX late yesterday. Silver December contract also ended lower at USD 21.91 an ounce.