Gold regains Rs 31k-mark on renewed demand, silver tops 48k

Gold reclaimed the Rs 31,000-mark at the domestic bullion market here today following fresh offtake from investors and stockists driven by surge in global cues.
Elsewhere, silver reclaimed Rs 48,000 mark by surging Rs 1,410 per kg, its highest in more than two-years, on heavy speculative rally.
Globally, gold rose after the Federal Reserve stopped short at this week's policy meeting of indicating that a further increase in US interest rates is on the cards for later this year.
Standard gold (99.5 purity) spurted by Rs 315 to end at Rs 31,080 per 10 grams from Wednesday's level of Rs 30,765.

Pure gold (99.9 purity) also climbed by a similar margin to close at Rs 31,230 per 10 grams as compared to Rs 30,915 earlier.
Silver (.999 fineness) zoomed up by Rs 1,410 to finish at Rs 48,160 from Rs 46,750 yesterday.

The level has not been seen since February 21, 2014.
In Europe, spot gold was 0.1 percent higher at USD 1,341.40 an ounce in early trade, having ended Wednesday up 1.5 percent in the wake of the Fed statement. U.S. Gold futures for August delivery were up 1.1 percent at USD 1,340.70.
Among other precious metals, silver was down 0.3 percent at USD 20.28 per ounce.