Gold, silver rise on good demand on firm global cues

Gold prices rose for the third straight session at the domestic bullion market here today on sustained wave of buying interest from stockists and retailers as well as bullish overseas sentiment.
Elsewhere, silver continued its rallying momentum on the back of heavy speculative demand coupled with strong industrial buying support.
Standard gold (99.5 purity) climbed by Rs 105 to end at Rs 28,200 per 10 grams as compared to Wednesday's closing level of Rs 28,095.
Pure gold (99.9 purity) also rose by a similar margin to finish at Rs 28,350 per 10 grams as against Rs 28,245 yesterday.
Silver (.999 fineness) advanced by Rs 280 to close at Rs 40,700 as compared to Rs 40,420 previously.

Globally, gold touched its highest in four weeks as the US dollar stepped further away from a 14-year peak hit earlier this week, and on a technical rebound.

Spot gold was up 1.3 per cent at USD 1,178.36 an ounce in early trade. It touched a high of USD 1,178.62, its best since December 7.
US gold futures climbed 1.2 per cent to USD 1,178.50 per ounce.
Spot silver was up 1.5 per cent at USD 16.66. It earlier hit a 3-week high of USD 16.70.