Gold, silver continue upward trend

Gold maintained its upward trend for the second straight session at the domestic bullion market here today due to consistent buying support from jewellers and retail consumers despite lower global cues.
Silver too attracted increased buying support from industrial units and surged by Rs 870 per kg.
Standard gold (99.5 purity) rose by Rs 250 to end at Rs 31,340 per 10 grams against Tuesday's closing level of Rs 31,090.
Pure gold (99.9 purity) also added a similar margin to settle at Rs 31,490 per 10 grams from Rs 31,240 earlier.
Silver (.999 fineness) surged by Rs 870 to finish at Rs 47,505 per kg against Rs 46,635 yesterday.

Globally, gold steadied near two-and-a-half-week highs, losing momentum due to profit taking following a rally in the previous session on US data that weakened the case for a US rate rise soon.
Spot gold was down at USD 1,367.93 per ounce in early trade. The metal touched a high of USD 1,352.65, its best since Aug 19 so far this week.
Among other precious metal, silver was down to USD 19.97 per ounce after touching an over three-week high of USD 20.13.