Gold glitters on global cues, silver tops Rs 37,000-mark

Gold prices strengthened at the domestic bullion market here today on sustained buying from stockists and retailers amid higher global cues.

Silver prices surpassed the Rs 37,000 level by gaining Rs 100 due to increased offtake by industrials units.

Standard gold (99.5 per cent purity) jumped by Rs 125 to close at Rs 29,540 per 10 gram from Monday's closing level of Rs 29,415.

Pure gold (99.9 per cent purity) also gained by a similar margin to close at Rs 29,690 per 10 gram against Rs 29,565.

Silver (.999 fineness) rose by Rs 100 per kg to close at Rs 37,010 from Rs 36,910 previously.

Globally, gold rose to a one-week high as the dollar weakened after the US President Donald Trump criticised the federal reserve for raising interest rates.

A weaker dollar generally boosts the price of dollar-denominated gold.

Spot gold was 0.3 per cent higher at USD 1,193.51 an ounce in an early trade.

Elsewhere, spot silver climbed 0.6 per cent to USD 14.79 an ounce.