Gold scales one week high on firm demand, silver also spurts

Gold prices today climbed for the fourth straight day to touch highest level in nearly a week at the domestic bullion market on consistent demand from jewellery stockists and retailers ahead of festivities.
Silver also continued its rally on the back of speculative demand coupled with higher industrial buying.
Standard gold of 99.5 per cent purity rose by Rs 185 to conclude at Rs 30,265 per 10 gm from overnight closing level of Rs 30,080.
Pure gold of 99.9 per cent purity also strengthened by Rs 185 to finish at Rs 30,415 per 10 gm from Rs 30,230.
Silver ready (.999 fineness) hardened by Rs 200 to end at Rs 50,300 per kg from Thursday's close of Rs 50,100.

Meanwhile, the yellow metal retreated in overseas trade after better-than-expected US jobless claim data reignited fears that the Fed will start tapering its bond- buying programme despite lingering fiscal woes.
December gold fell USD 12.10 to settle at USD 1,324.10 an ounce on the Comex division of the NYMEX late yesterday and silver December contract slipped to USD 21.77 an ounce.