Gold, silver gain on sustained demand

Mumbai : Gold prices gained further at the domestic bullion market here today on sustained demand from stockists and investors, triggered by the ongoing wedding season.

Silver rose smartly due to speculative buying amid good industrial offtake.Standard gold (99.5 per cent purity) climbed by Rs 45 to close at Rs 29,485 per 10 gram from Wednesday's level of Rs 29,440.Pure gold (99.9 per cent purity) also moved up by a similar margin to Rs 29,635 per 10 gram as against Rs 29,590 previously.

Silver (.999 fineness) jumped by Rs 130 to finish at Rs 39,435 per kg as compared to Rs 39,305 earlier.Globally, Gold steadied, having risen nearly 1 per cent in the previous session, as the dollar sank after minutes from the US Federal Reserve's latest policy meeting dampened the outlook for interest rate hikes next year.Spot gold was flat at USD 1,292.14 per ounce by at early trade.In other precious metals, silver slipped 0.1 per cent to USD 17.13 an ounce.