Gold price climbs on global cues, silver recovers
Silver also recovered smartly owing to good speculative demand as well as industrial buying.
Standard gold of 99.5 per cent purity shot-up Rs 215 to finish at Rs 29,595 per 10 gm from last Saturday's closing level of Rs 29,380.
Pure gold of 99.9 per cent purity advanced by Rs 185 to close at Rs 29,730 per 10 gm as against Rs 29,545 previously.
Silver ready (.999 fineness) surged by Rs 105 to end at Rs 54,735 per kg from Rs 54,630 last weekend.
On the global front, gold traded above USD 1,600 for the first time in more than two weeks after vital bailout package for Cyprus-brewed fresh turmoil in the eurozone, triggering investors towards safe haven buying.
In Europe, spot gold bid 2-1/2 week high of USD 1,608.30 an ounce in early trade and spot silver bid up by USD 28.74 an ounce.
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