Gold rallies on global cues, jewellers' buying

Gold edged higher by Rs 50 to Rs 30,450 per 10 gram at the bullion market today, tracking a firm trend overseas amid scattered buying by local jewellers.
However, silver slipped by Rs 390 to Rs 39,710 per kg due to reduced offtake by industrial units and coin makers.
Apart from a firm global trend as weakness in dollar boosted safe haven demand, mild buying by local jewellers at the domestic spot market aided the uptrend in gold prices.
Globally, gold rose 0.42 per cent to USD 1,308 an ounce in Singapore.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity were up by Rs 50 each to Rs 30,450 and Rs 30,300 per 10 gram, respectively.

Sovereign however remained flat at Rs 24,700 per piece of eight gram.
On the other hand, silver fell by Rs 390 to Rs 39,710 per kg and weekly-based delivery by Rs 130 to Rs 39,040 per kg.
Silver coins however were unaltered at Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.