Gold shines by Rs 320 to end at Rs 29,240 amid bullion global cues

The precious metal Gold prices moved up by Rs 320 to trade at Rs 29,090 per 10grams at the bullion market in Mumbai on Monday, due to picking up in buying by stockists and jewellers amid strong global cues.

Silver also shined by RS 650 to cross the crucial 40,000-mark to Rs 40,570 per kg on increased offtake by industrial units.

The standard gold (99.5 purity) hardened by Rs 320 to finish at Rs 29,090 per 10 grammes from overnight closing level of Rs28,770.

Prices of the pure gold (99.9 purity) also went up by a similar margin to end at Rs 29,240 per 10 grammes from Rs 28,920.

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Silver (.999 fineness) rose by Rs 650 to end atRs 40,570 per kg from Rs 39,920 on last Friday.

Globally, gold hit a six-week high, buoyed by disappointing US jobs data on Friday that dimmed the prospects for an aggressive run of interest rate increases in the world's biggest economy.

(With PTI Inputs)