Gold surges on sustained demand, silver gains

Gold prices surged further to retrace Rs 30,150 per 10-grams at the domestic bullion market here today on sustained demand from stockists and traders amid good local buying interest at the existing levels.
Silver also gained on hectic speculative off-take bolstered by industrial demand.
Standard gold of 99.5 per cent purity shot up by Rs 350 to close at Rs 30,150 per 10 gram from last Saturday's closing level of Rs 29,800.
Pure gold of 99.9 per cent purity climbed by Rs 340 to finish at Rs 30,300 per 10 gram from Rs 29,960 previously.
Silver ready (.999 fineness) firmed up by Rs 345 to conclude at Rs 49,570 per kg as against Rs 49,225 last weekend.

Overseas, gold moved up as investors assessed the impact of a lower dollar after politicians in Washington showed no signs of making progress to resolve the US budget standoff.
In London, gold was bidding up at USD 1,312.06 an ounce in early trade and silver was bid higher at USD 21.73 an ounce.