Gold, silver surge on festive demand

Gold surged at the domestic bullion market today on heavy demand by stockists and traders on the back of firm festive buying.
Silver also climbed up, owing to good speculative demand amid higher industrial off-take.
Standard gold of 99.5 per cent purity shot up by Rs 365 to close at Rs 28,585 per 10 gm from Thursday's closing level of Rs 28,220.
Pure gold of 99.9 per cent purity advanced by Rs 340 to finish at Rs 28,720 per 10 gm from Rs 28,380.
Silver ready (.999 fineness) soared by Rs 600 to conclude at Rs 42,860 per kg from Rs 42,260 yesterday.

Globally, gold eased following dollar recovery amid continued speculation over the outlook of US monetary policy.
In London, spot gold bid lower at USD 1,308.76 an ounce in early trade and silver ruled flat at USD 20.19 an ounce.