Gold surges further on wedding demand

Gold prices soared further by Rs 220 to Rs 29,325 per 10 grams at the bullion market today on increased buying by jewellers, driven by rising wedding season demand despite weakness in global cues.
Elsewhere, silver strengthened further owing to sustained industrial buying and jewellery offtake.
Standard gold (99.5 purity) climbed by Rs 220 to conclude at Rs 29,325 per 10 grams from Monday's closing level of Rs 29,105.
Pure gold (99.9 purity) also jumped by a similar margin to end at Rs 29,475 per 10 grams as against Rs 29,255 earlier.
Silver (.999 fineness) rose by Rs 175 to finish at Rs 42,540 from Rs 42,365 yesterday.

Globally, gold slipped from a near three-month peak, pressured by a strong dollar as the euro fell on nervousness ahead of the French elections and weak German industry data.
Spot gold was down 0.4 per cent at USD 1,230.40 per ounce in early trade. In the previous session, the metal touched USD 1,235.73, its highest since November 11.
Among other precious metals, silver fell 0.7 per cent to USD 17.61. Earlier in the session, it reached USD 17.76, its strongest since November 11.