Gold extends gains to hit fresh highs, silver also surges

Silver, tracking the yellow metal, also surged and revisited the Rs 59,000 mark on hectic speculative as well as industrial demand.

Standard gold (99.5 purity) rose by Rs 50 to close at Rs 30,920 per 10 gm from last Saturday's closing level of Rs 30,870.

Pure gold (99.9 purity) went up by Rs 55 to conclude at Rs 31,065 per 10 gm from Rs 31,010.

Silver ready (.999 fineness) advanced by Rs 315 per kg to finish at Rs 59,025 from Rs 58,710 last weekend.

In Europe, gold traded at 4-1/2 month highs in a limited activity due to holiday amid growing anticipation that US Federal Reserve may be set to unveil additional stimulus measures to tackle weak growth in the world's biggest economy.

 

Spot gold was bid higher at USD 1,676.45 an ounce in early trade.

Spot silver was bid up at USD 31.26 an ounce.