Gold extends gains on global cues, silver slips

Extending its gains for the second straight day, gold prices rose by Rs 200 per ten grams at the bullion market here today largely on firm global cues along with increased buying by jewellers.
However, silver slipped by Rs 50 owing to lower industrial demand.
Standard gold (99.5 purity) moved-up by Rs 200 to end at Rs 29,495 per 10 grams from yesterday's level of Rs 29,295.
Pure gold (99.9 purity) also rose by a similar margin to close at Rs 29,645 per 10 grams against Rs 29,445 yesterday.
However, silver (.999 fineness) dropped by Rs 50 per kg to finish at Rs 41,090 compared to Rs 41,140 previously.

Globally, gold rose 1 per cent to its highest in a week as the Bank of Japan held policy steady, boosting the yen versus the dollar, while the Federal Reserve signalled that it was in no rush to tighten monetary policy.
Spot gold was up 0.9 percent at USD 1,257.06 an ounce in early European trade, off an earlier one-week high of USD 1,258.70, while US gold futures for June delivery were up USD 8.90 an ounce at USD 1,259.53.
Among other precious metals, silver was up 0.7 per cent at USD 17.34 an ounce.