Gold glitters near 29K level; silver tops Rs 42K

Buoyed by positive global cues and sustained buying by jewellers at the domestic market, gold gained Rs 160 to trade at Rs 28,905 per ten grams at the bullion market here today.
Silver shot up by Rs 495 per kg to reclaim the key Rs 42,000 mark on hectic demand from industrial units and coin makers. Standard gold (99.5 purity) rose by Rs 160 to end at Rs 28,905 per 10 grams as against last Friday's closing level of Rs 28,745. Pure gold (99.9 purity) also rallied by a similar margin to conclude at Rs 29,055 per 10 grams as against Rs 28,895 previously. Nifty Trading Tips

Silver (.999 fineness) climbed by Rs 495 to finish at Rs 42,155 compared with Rs 41,660 earlier. Globally, gold rallied more than 1 per cent after US President Donald Trump's failure to push through a healthcare reform package on Friday raised questions over his ability to deliver promised tax cuts and spending plans. Spot gold was up 1.1 per cent at $1,257.08 an ounce at early trade, having touched a one-month high of $1,259.14. Silver was up 0.9 per cent at $17.91 an ounce, off an earlier three-week high of $17.938. Future & Option Trading Tips