Gold shines on strong demand, global cues

Gold continued its strong rallying momentum at the domestic bullion market today, tracking a firm trend overseas and increased buying support from jewellers and retail consumers to meet rising seasonal demand.
Elsewhere, silver also firmed up owing to higher industrial demand.
Standard gold (99.5 purity) strengthened by Rs 260 to end at Rs 28,970 per 10 grams from its overnight closing level of Rs 28,710.
Pure gold (99.9 purity) also added by a similar margin to settle at Rs 29,120 per 10 grams as compared to Rs 28,860.
Silver (.999 fineness) rose by Rs 105 per kg to finish at Rs 41,490 from Rs 41,385 earlier.

In worldwide trade, gold rose to a 7-week high on a weaker dollar after US President-elect Donald Trump provided little clarity on future fiscal policies at a press briefing.
Spot gold was up 0.5 percent at USD 1,196.06 per ounce, after touching a high of USD 1,198.58, its best since Nov. 23.
Spot silver rose 0.5 percent to USD 16.81 an ounce.