Gold gains on renewed demand, silver tops Rs 39k

Gold prices recovered by Rs 215 to reach Rs 29,330 per 10 grams at the domestic bullion market here today following fresh offtake from stockists even as the metal weakened overseas.
Elsewhere, silver reclaimed the Rs 39,000 mark by surging Rs 545 per kg on heavy speculative rally.
Standard gold (99.5 per cent purity) climbed by Rs 215 to close at Rs 29,330 per 10 grams from yesterday's level of Rs 29,115.
Pure gold (99.9 per cent purity) also moved up by the same amount to Rs 29,480 per 10 grams as against Rs 29,265 previously.
Silver (.999 fineness) jumped by Rs 545 to finish at Rs 39,540 per kg as compared to Rs 38,995 earlier.

Globally, gold fell as investors locked in gains from the metal's biggest one-day rally in six weeks, posted after a string of high-profile arrests in Saudi Arabia sent oil to a 2-1/2 year high, and the dollar and US Treasury yields sank.
Spot gold was down 0.4 per cent at USD 1,276.81 an ounce at early trade.
Among other precious metals, silver was down 1.1 per cent at USD 17.04 an ounce after hitting its highest since October 20 at USD 17.27 earlier in the session.