Gold price tops Rs 29,000-mark, hits over 1-month high

New Delhi: Gold prices on Tuesday reclaimed the Rs 29,000-mark by surging Rs 330 to trade at over one-month high of Rs 29,030 per 10 grams, tracking uptrend in the global bullion market and increased buying by local jewellers.

In the national capital, gold of 99.9 and 99.5 percent purity climbed Rs 330 each to Rs 29,030 and Rs 28,880 per ten gram, respectively, a level last seen on December 5 when it had closed at Rs 29,050.

The precious metal had shed Rs 40 in yesterday's trade.

Following gold, silver ready also rebounded by Rs 350 to Rs 40,750 per kg and weekly-based delivery by Rs 305 to Rs 40,600 per kg.

MCX

At the Multi Commodity Exchange (MCX), gold for delivery in February was trading higher by Rs 9, or 0.03 percent to Rs 28,060 per 10 grams.

Analysts said, a firming trend in the global markets as weakness in the dollar raised demand for the precious metal as a safe haven investment, mainly influenced gold prices at futures trade here.

Gold in international market

Globally, gold rose to its highest in over one a month today, buoyed by a weaker US dollar and as fears that Britain will not have a clean break with the European Union stoked safe-haven buying. Spot gold was up half a percent at USD 1,187.01 an ounce, after reaching its highest since Dec 5 at USD 1,187.61 earlier in the session. US gold futures climbed 0.2 percent to USD 1,187.20 per ounce.

With Agency Inputs