Gold, silver soar on rising demand, festive off-take

Gold prices soared at the bullion market here today on robust demand from stockists and jewellers in the midst of festival and marriage season offtake.
Silver also spurted on heavy speculative off-take and pick-up in industrial demand, leading the white metal to revisit the Rs 50,000 per kg mark.
Standard gold of 99.5 per cent purity strengthened by Rs 360 to finish at Rs 30,510 per 10 gram from Monday's closing level of Rs 30,150.
Pure gold of 99.9 per cent purity hardened by Rs 355 to close at Rs 30,655 per 10 gram from Rs 30,300 yesterday.
Silver ready (.999 fineness) shot up by a hefty Rs 1,025 to end at Rs 50,595 per kg from Rs 49,570 previously.

Globally, gold rose on support from China's return from holidays despite investor concerns over developments in US, where prolonged fiscal standoff may push it towards an unprecedented debt default.
In London, gold was bid higher at USD 1,322.79 an ounce in early trade and silver was bid up at USD 22.30 an ounce.