Gold, silver surges further on global cues

Posted By: Pti
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Mumbai, Sep 3: Gold and silver prices surged further at the domestic bullion market hereon Friday on sustained speculative and investment buying sparked by rising global markets.

Standard gold (99.5 purity) shot up by Rs 305 per 10 grams to end at 27,610 from Wednesday's closing level of Rs 27,305.

Pure gold (99.9 purity) hardened by Rs 300 per 10 grams to close at Rs 27,740 from Rs 27,440. Silver ready (.999 fineness) also jumped by Rs 1,360 per kilo to finish at Rs 64,670 as against Rs 63,310 previously.

In Europe, Gold rose to a 1-1/2 week high in early, benefiting from caution about euro zone debt crisis and ahead of the key US non-farm payrolls data which is likely to underscore the frail state of the world''s largest economy.

Spot gold was bid at USD 1,851.14 an ounce in early trade, while silver was bid at USD 42.15 an ounce.


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