TIL Desk/Business/Mumbai-Gold continued its rising streak for the fourth straight session to reclaim the psychologically significant INR 30,000-mark, its highest level in three weeks, at the domestic bullion market here on Monday on increased buying by jewellery stockists and retailers amid higher global cues.
Elsewhere, silver also rallied further owing to strong industrial demand. Standard gold (99.5 purity) shot-up by INR 480 to close at INR 29,920 per 10 grams from last Friday’s closing level of INR 29,440. Pure gold (99.9 purity) also rose by a similar margin to end at INR 30,070 per 10 grams against INR 29,590 previously.
Silver (.999 fineness) climbed by INR 470 to finish at INR 41,520 as compared to INR 41,050 on Friday. Globally, gold hit its highest since mid-May in early European trade driven higher by a retreat of the dollar as stocks were knocked by rising risk aversion before key central bank meetings this week.
Spot gold was up at USD 1,283.66 an ounce in early European trade, US gold futures for August delivery were up at USD 1,287 an ounce. Silver was trading flat at USD 17.31 an ounce.
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