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Gold tops Rs 29,000; Silver above Rs 39k

Press Trust of India  |  Mumbai 

) Gold prices advanced for the fourth day and reclaimed the Rs 29,000-mark by gaining Rs 140 per 10 grams at the bullion market here today, tracking a firming trend overseas amid increased buying by local jewellers.

Silver also rose by Rs 115 per kg due to increased offtake from coin makers and other consuming industries.

Standard gold (99.5 purity) climbed by Rs 140 to end at Rs 29,060 per 10 grams from Thursday's closing level of Rs 28,920.

Pure gold (99.9 purity) also moved up by a similar margin to close at Rs 29,210 per 10 grams as compared to Rs 29,070 previously.

Silver (.999 fineness) rose by Rs 115 to finish at Rs 39,110 per kg as against Rs 38,995.

Globally, Gold rose to two-month highs as investors sought refuge from the uncertainty of escalating security tensions between North Korea and the United States.

Spot gold was up 0.1 per cent at USD 1,287.83 per ounce at early trade, set for its biggest weekly gains since April.

Silver added 0.3 per cent to USD 17.12 per ounce after hitting USD 17.24, its highest since June 14, in the previous session.

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

First Published: Fri, August 11 2017. 18:22 IST