Gold tops on global cues; silver surges Rs 805/kg

Gold strengthened further for the second day at the domestic bullion market here today on sustained buying interest from stockists and retailers amid higher global cues.
Silver surpassed the Rs 40,000 level again with industrial units and coin makers stepping up demand.
Standard gold (99.5 purity) jumped by Rs 520 to close at Rs 29,765 per 10 grams from Monday's closing level of Rs 29,245.
Pure gold (99.9 purity) also gained by a similar margin to close at Rs 29,915 per 10 grams against Rs 29,395.
Silver (.999 fineness) zoomed by a whopping Rs 805 per kg to close at Rs 40,030 from Rs 39,225 previously.

Globally, Gold jumped to its highest since November as investors bought bullion as insurance against falling prices of other assets after North Korea tested a missile over Japan.
Spot gold, which rose for a third straight session, was up 0.9 per cent at USD 1,321.04 an ounce at early trade after touching USD 1,325.94, its highest since November 9.
Among other precious metals, silver rose 0.4 per cent to USD 17.48 after touching USD 17.63, its highest since June 8.