Gold, silver rally on good buying support

Gold maintained its upward trend for the second day at the bullion market here today, gaining another Rs 215 per 10 grams on sustained buying by local jewellers even as the metal weakened overseas.

Silver also surged further due to pick-up in demand from industrial users.

Standard gold (99.5 purity) hardened by Rs 215 to finish at Rs 31,225 per 10 grams from last Friday's closing level of Rs 31,010.

Pure gold (99.9 purity) also rose by a similar margin to end at Rs 31,375 per 10 grams compared with Rs 31,160.

Silver (.999 fineness) spurted by Rs 265 to conclude at Rs 39,445 per kg as against Rs 39,180 earlier.

Globally, gold fell, snapping three days of gains as the dollar index rose back towards its 2018 peak and last week's soft US jobs data did little to dampen optimism about the world's largest economy.

Spot gold was down 0.2 per cent at USD 1,312.03 an ounce at early trade.

Meanwhile, silver was trading down 0.3 per cent at USD 16.43 an ounce.