Gold rises on sustained demand

Gold rises on sustained demand

Mumbai: Gold prices surged by Rs145 to Rs17,170 per ten grams at the bullion market on Monday on sustained buying by stockists and traders.

Silver also firmed up to regain the Rs29K level on persistent demand from industrial users amid hectic stockists demand. It had hit the Rs29,000-level on 20 January this year.

Standard gold (99.5 purity) strengthened by Rs145 per ten grams to close at Rs17,170 from last Friday’s closing level of Rs17,025.

Pure gold (99.9 purity) rose by a similar margin of Rs145 per ten grams to conclude at Rs17,255 as against Rs17,110 previously.

Silver ready (.999 fineness) shot up by Rs265 per kilo to end at Rs29,025 from Rs28,760 previously.