Gold prices extend gains, now at 5-mth high

Gold prices zoomed past the Rs 27,000-level by surging Rs 175 to close at a five-month high of Rs 27,155 per 10 grams at the bullion market today, tracking a firm trend overseas and increased buying by jewellers to meet the ongoing wedding season demand.
Silver also surged Rs 515 to Rs 35,940 per kg due to increased offtake by industrial units.
Standard gold (99.5 purity) gained by Rs 175 to end at Rs 27,155 per 10 grams (the rate not seen since Aug 24, 2015) as against yesterday's closing level of Rs 26,980.
Pure gold (99.9 purity) also rallied by a similar margin of Rs 175 to conclude at Rs 27,305 per 10 grams as against Rs 27,130 previously.

However, silver (.999 fineness) spurted by Rs 515 to finish at Rs 35,940 compared with Rs 35,425 yesterday.
On the global front, gold edged up to a three-month high, a day after its best day in two weeks, buoyed by expectations that global economic and financial headwinds could make it tough for the U.S. Federal Reserve to raise rates in the near term.
Spot gold touched USD 1,147.40 an ounce, its highest since Oct. 30, before stabilising. It was up 0.2 percent at USD 1,145.16 in early trade, after rallying 1.2 percent on Wednesday, the biggest daily gain since Jan. 20.

While, spot silver was up 0.5 percent at USD 14.757 an ounce, not far below Wednesday's three-month peak of USD 14.80.