Gold soars on global cues, silver advances

Rising for the second straight day, gold prices advanced by Rs 130 per 10 grams at the bullion market today in tandem with a firming trend overseas and increased buying by jewellers.
Silver also advanced by Rs 200 per kg on pick up in demand from industrial units.
Standard gold (99.5 purity) rose by Rs 130 to end at Rs 28,835 per 10 grams against Thursday's closing level of Rs 28,705.
Pure gold (99.9 purity) also added a similar margin to settle at Rs 28,985 per 10 grams from Rs 28,855 earlier.
Silver (.999 fineness) surged by Rs 200 to finish at Rs 40,235 per kg against Rs 40,035 yesterday.

Globally, gold hit its highest in nearly four weeks in response to a weaker dollar and political uncertainty that led investors to shun riskier assets in favour of bullion.
Spot gold had gained 0.9 per cent to USD 1,266.01 per ounce at early trade, the highest since May 1.
Among other precious metals, spot silver was up 0.8 per cent at USD 17.26.