Gold, silver soar on global cues

Gold prices maintained a rising trend on the domestic bullion market here today due to consistent buying support from jewellers and retail consumers amid global cues.
Silver too attracted increased buying support from industrial units and surged Rs 370 per kg.
Standard gold (99.5 purity) rose by Rs 255 to end at Rs 29,345 per 10 grams against Monday's closing level of Rs 29,090.
Pure gold (99.9 purity) also added a similar margin to settle at Rs 29,495 per 10 grams from Rs 29,240 earlier.
Silver (.999 fineness) surged by Rs 370 to finish at Rs 40,940 per kg against Rs 40,570 yesterday.

Globally, gold rose to its highest in seven weeks as weak economic data in the United States reduced expectations of rapid US interest rate rises this year, pushing the dollar to a seven month-low and lowering US bond yields.
Spot gold was up 1 per cent at USD 1,291.88 an ounce at early trade, having earlier touched its highest since April 18 at USD 1,292.16.
In other precious metals, silver was up 0.8 per cent at USD 17.65 an ounce, its highest since April 25.