Gold prices climb on global cues, seasonal buying
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Mumbai: Gold prices surged at the bullion market on Tuesday, tracking a firm global trend and pick up in buying by jewellers and retailers.
Silver also edged up on higher demand from industrial units and coin makers. Standard gold (99.5 purity) gained Rs 90 to end at Rs 28,760 per 10 grams as against Monday’s closing level of Rs 28,670.
Pure gold (99.9 purity) also rallied by a similar margin to conclude at Rs 28,910 per 10 grams as against Rs 28,820 previously. Silver (.999 fineness) rose by Rs 95 to finish at Rs 41,915 compared to Rs 41,820 on Monday.
Globally, gold rose as investors sought assets seen as havens from risk as political and security tensions rose over North Korea, the Middle East and the looming French election. Spot gold inched up 0.15% to $1,256.10 per ounce.
Spot silver edged up 0.1% to $17.93 an ounce. In the previous session, it marked its lowest in over two weeks at $17.71.