Gold recovers on renewed buying, silver crosses Rs 40K-mark

Gold prices bounced Rs 185 per 10 grams at the bullion market here today following uptick in festive and wedding season demand from jewellers and retailers amid signs of a strong global trend.
Silver recaptured the Rs 40,000 per kg mark by climbing Rs 255 on increased offtake by industrial units.
Standard gold (99.5 purity) moved up by Rs 185 to close at Rs 29,860 per 10 grams from last Friday's closing level of Rs 29,675.
Pure gold (99.9 purity) also rose by a similar margin to end at Rs 30,010 per 10 grams as against Rs 29,825 previously.
Silver (.999 fineness) climbed by Rs 255 per kg to close at Rs 40,110 as compared to Rs 39,855 earlier.

Globally, a slightly firmer dollar weighed on gold, while ongoing tensions over Iran and North Korea and recent weak US economic data lifted bullion above the psychological USD 1,300 level.
Spot gold was unchanged at USD 1,304.50 an ounce in early trade.
Silver rose 0.1 per cent to USD 17.37 an ounce after hitting USD 17.44, its highest since mid-September.