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Gold climbs Rs 365 on firm global cues

Press Trust of India  |  Mumbai 

prices soared by Rs 365 per 10 grams at the market here today amid a firm overseas trend and increased buying by local jewellers.

Silver too followed suit and surged by Rs 470 per kg on increased offtake by industrial units.

Standard (99.5 purity) climbed by Rs 365 to end at Rs 30,575 per 10 grams from Wednesday's close of Rs 30,210.

Pure (99.9 purity) also rose by a similar margin to finish at Rs 30,725 per 10 grams compared to Rs 30,360 previously.

Silver (.999 fineness) surged by Rs 470 to settle at Rs 38,655 per kg as against Rs 38,185 earlier.

Globally, gold was on track for its fourth straight session of gains as the dollar skidded to its lowest in two weeks on concerns about the impact of high levels of US debt and tax cuts.

Spot gold was up 0.2 per cent at USD 1,353.73 an ounce at early trade.

Among other precious metals, silver was up 0.3 per cent at USD 16.92 an ounce.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 15 2018. 19:20 IST