Gold Gains Rs 350, Silver Rs 500 On Festive Demand

Both gold and silver moved up today on buying by stockists and jewellers to meet the festival demand, amid a firming trend in Asia.

While gold prices surged by Rs 350 to Rs 26,990 per 10 grams, silver rose by Rs 500 to Rs 53,500 per kg.

Trading sentiment turned better as gold advanced in Asia on concerns that Europe''s sovereign-debt crisis may not be contained, spurring investors to buy the metal to guard their wealth against a potential slowdown in the global economy.

In Singapore, gold climbed 1.4% to $1,647.35 an ounce, while silver jumped 3.2% to $30.87 an ounce.

In addition, pick-up in the demand for the precious metals'' during the ongoing Navratras and approaching Diwali further bolstered the trading sentiment.

From: http://www.indiatvnews.com/business/India/Gold_Gains_Rs_Silver_Rs-502.html