Snapping its two-day falling streak, gold rebounded to reclaim the Rs 30,000-mark, its highest level in more than four weeks, at the domestic bullion market here today due to renewed demand from jewellery stockist and retailers amid bullish global cues.
Elsewhere, silver strengthened its rally for the seventh straight session following strong industrial offtake.
Standard gold (99.5 purity) spurted by Rs 475 to end at Rs 30,250 per 10 grams from Wednesday’s level of Rs 29,775.
Pure gold (99.9 purity) also climbed by a similar margin to close at Rs 30,400 per 10 grams as compared to Rs 29,925 yesterday.
Silver (.999 fineness) shot-up by Rs 670 to finish at Rs 42,340 against Rs 41,670 previously.
Globally, gold rallied to a two-year high in early trade after the Federal Reserve sounded a less dovish note after its latest policy meeting, and as the dollar sank to a 21-month low versus the yen.
Spot gold was up at $1,306.30 an ounce in early European trade and spot silver also up at $17.70 an ounce.