Gold, silver recover as buying spikes, global cues

Gold prices recovered smartly and reclaimed the Rs 29,000-mark at the bullion market today taking positive cues from global market amid pick up in buying by jewellers to meet wedding season demand.
Elsewhere, silver also recouped following renewed offtake from industrial users.
Standard gold (99.5 purity) climbed by Rs 140 to end at Rs 29,030 per 10 grams from last Friday's closing level of Rs 28,890.
Pure gold (99.9 purity) also rose by a similar margin to close at Rs 29,180 per 10 grams as compared to Rs 29,040 previously.
Silver (.999 fineness) gained by Rs 120 per kg to finish at Rs 41,375 from Rs 41,255 last weekend.

Globally, gold rose, buoyed by safe-haven demand due to uncertainty over US policy ahead of President-elect Donald Trump's inauguration and amid concerns over Britain's exit from the European Union.
Spot gold had risen 0.5 percent to USD 1,203.15 per ounce in early trade.
Spot silver rose 0.4 percent to USD 16.84 an ounce.