Mumbai: Gold prices firmed up further at the bullion market in Mumbai on Tuesday due to sustained demand from stockists and jewellers on the back of higher global advices.

Silver also gained on heavy speculative offtake. Standard gold (99.5 purity) rose by Rs130 to end at Rs28,180 per 10 grams from Monday’s level of Rs28,050. Pure gold (99.9 purity) also climbed by a similar margin to finish at Rs28,330 per 10 grams against Rs28,200 previously.

Silver (.999 fineness) surged by Rs220 per kg to conclude at Rs37,420 from Rs37,200 on Monday. In Europe, gold prices hit a two-week high as the dollar fell on fading prospects of an imminent increase in US interest rates and expectations of stronger demand from the physical market.

Spot gold was up 0.2% at $1,236.10 an ounce in early trade. Spot silver gained 0.3% to $16.12 an ounce.

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