Gold, silver soar on seasonal demand, global cues

Prices rise after a marginal fall in morning trade

Gold prices, after declining at open, recovered at the bullion market here today on renewed buying interest from investors and stockists amid good jewellery off-take.

Sillver also shot up on the back of frantic speculative demand amid higher industrial support.

Standard gold (99.5 purity) rose by Rs 100 to conclude at Rs 29,310 per 10 gm from Friday's closing level of Rs 29,210.

Pure gold (99.9 purity) also went up by a similar margin to end at Rs 29,440 per 10 gm from Rs 29,340 previously.

Silver ready (.999 fineness) surged by Rs 400 per kg to close at Rs 56,450 as against Rs 56,050 yesterday.

In New York, gold futures jumped after disappointing US job data reignited possibility of further monetary easing measures amid political uncertainties in the euro-zone.

Gold for June delivery added $10.40 to trade at $1,645.20 an ounce on the Comex division of the NYMEX late yesterday.

July Silver gained 42 cents to settled at $30.43 an ounce.