Gold, silver maintain upward march

MUMBAI: Gold prices climbed for the third consecutive session to revisit nearly a week high at the domestic bullion market today on consistent stockists and traders demand and rising local buying interest amid wedding seasonal off-take.

Silver also surged on heavy speculative demand on the back of industrial buying.

Standard gold (99.5 purity) rose by Rs 200 per 10 gm to end at Rs 31,205 from last Saturday's closing level of Rs 31,005.

Pure gold (99.9 purity) advanced by a similar margin of Rs 200 per 10 gm to finish at Rs 31,340 as compared to Rs 31,140.

Silver ready (.999 fineness) shot up by Rs 580 per kg to close at Rs 62,930 from Rs 62,350 last weekend.

In Europe, gold firmed on high expectations that Federal Reserve will further stimulate monetary policy in its meeting later this week.

Spot gold bid higher at USD 1,711.00 an ounce in early trade and silver was bid up at USD 33.29 an ounce.