Gold price climbs Rs 100 to Rs 29,430 per 10 grams; silver retakes Rs 42,000-mark

A positive global trend took gold higher by Rs 100 to Rs 29,430 per 10 grams Monday, with local jewellers adding to the tempo.

New Delhi: A positive global trend took gold higher by Rs 100 to Rs 29,430 per 10 grams on Monday, with local jewellers adding to the tempo.

Silver retook the Rs 42,000-mark per kg by jumping Rs 200 in the wake of increased offtake by industrial units and coin makers.

Traders said overseas gold soared to a month's high on the back of the dollar's weakness following President Donald Trump's failure to push through his healthcare legislation.

Globally, gold climbed 1.22 percent to USD 1,258.10 an ounce, the highest since February 28, and silver by 0.96 percent to USD 17.91 an ounce in Singapore.

Besides, increased buying by local jewellers at the domestic spot market provided support.

In the national capital, gold of 99.9 percent and 99.5 percent purity surged Rs 100 each to Rs 29,430 and Rs 29,280 per 10 grams, respectively. It had shed Rs 20 on Saturday.

Sovereign, however, remained steady at Rs 24,400 per piece of eight grams.

In line with gold, silver ready moved up by Rs 200 to Rs 42,000 per kg and weekly-based delivery by Rs 205 to Rs 41,735.

Silver coins, however, traded at the previous level of Rs 71,000 for buying and Rs 72,000 for selling of 100 pieces.