Gold up Rs 120, covers ground on wedding demand

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New Delhi: Powered by wedding season demand from jewellers and retailers, gold regained some lustre by rising Rs 120 to Rs 30,520 per 10 grams at the bullion market today.

Positive global cues added to the upside.

Silver recaptured the Rs 43,000 per kg mark by climbing Rs 700 on increased off-take by industrial units and coin makers.

Bullion merchants attributed the traction in gold prices to hardening demand from jewellers as well as retailers, triggered by the ongoing wedding rush.

Globally, gold rose 0.04 per cent to USD 1,265.70 an ounce and silver 0.03 per cent to USD 17.50 an ounce in New York yesterday.

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