Gold price hits over 1-month high, spurts by Rs 410 to 29,760 per 10 grams

New Delhi: Gold made the most of rising geo-political uncertainty as it rose for the second straight day, with prices surging Rs 410 to an over one-month high of Rs 29,760 per 10 grams on Wednesday.

Silver shot past the Rs 42,000-mark by surging Rs 925 to Rs 42,750 per kg, driven by higher offtake.

Traders said the bullion derived its strength from a firm trend overseas as soaring geo-political tensions boosted the metal's appeal as a safe haven.

Globally, gold climbed 0.05 percent to trade at a five-month high of USD 1,274.60 an ounce in Singapore.

Besides, persistent buying by local jewellers to cater to wedding season demand supported the upside, they said.

In the national capital, gold of 99.9 percent and 99.5 percent purity went up by Rs 410 each to Rs 29,760 and Rs 29,610 per 10 grams, respectively, a level last seen on March 6 when it had ended at Rs 29,750. The precious metal had gained Rs 60 yesterday.

Sovereign also traded higher by Rs 100 at Rs 24,500 per piece of eight grams.

Silver ready and weekly-based delivery climbed by Rs 925 each to Rs 42,750 and Rs 42,320 per kg, respectively.

Silver coins too moved up by Rs 1,000 to Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces.