Gold maintains surge on strong seasonal offtake

Gold continued its rallying momentum for the third-straight day on the domestic bullion market here due to consistent buying interest from jewellery stockists and retailers amid brisk seasonal demand.
Silver also firmed up further on good industrial buying support.
Standard gold (99.5 purity) spurted by Rs 115 to conclude at Rs 26,970 per 10 grams from Wednesday's closing level of Rs 26,855.
Pure gold (99.9 purity) also rose by a similar margin to end at Rs 27,120 per 10 grams against Rs 27,005 previously.
Silver (.999 fineness) added by Rs 30 to settle at Rs 38,150 per kilo compared to Rs 38,120 yesterday.

On the global front, the yellow-metal drifted sharply on the back of investors selling as higher bond yields dented the investment appeal of the precious metal and also Fed rate hike uncertainty.
Spot gold was substantially lower at USD 1,182.20 an ounce in early European trade, while was quoted at USD 16.26 an ounce.