Gold gains for 5th straight day, adds Rs 95 on sustained demand

Rising for the fifth straight session, gold prices rose by another Rs 95 per 10 grams at the bullion market today on sustained buying by local jewellers.

Silver recovered marginally by Rs 20 per kg on mild offtake from industrial units. Standard gold (99.5 purity) rose by Rs 95 to finish at Rs 30,780 per 10 grams from Friday’s closing level of Rs 30,685.

Pure gold (99.9 purity) also surged by a similar margin to end at Rs 30,930 per 10 grams as against Rs 30,835 earlier. Silver (.999 fineness) gained Rs 20 per kg to conclude at Rs 38,485 from Rs 38,465, previously. Globally, gold prices steadied after hitting their highest in five weeks as the market weighed an easing of global trade tensions against support from tempered expectations of US interest rate increases.

Spot gold was mostly flat at USD 1,346,20 per ounce by at early trade.

Among other precious metals, silver climbed 0.4 per cent to USD 16.59 per ounce.