Gold prices jumped Rs 76 per 10 grams on special “Diwali Muhurat’ trading today.

Increased buying activity driven by the ongoing festive season demand amid a firm overseas trend on the auspicious occasion of ‘Diwali’ and the beginning of Hindu Samvat year 2074 supported gold prices, traders said.

In line with gold, silver rebounded due to increased offtake by coin makers and other consuming industries.

Standard gold (99.5 purity) rose Rs 76 to close at Rs 29,571 per 10 grams from Wednesday’s closing level of Rs 29,495. Pure gold (99.9 purity) also gained by a similar margin to end at Rs 29,721 per 10 grams against Rs 29,645 previously.

Silver (.999 fineness) climbed by Rs 381 per kg to close at Rs 39,811 compared with Rs 39,430 earlier.

Globally, gold futures snapped a three-session skid yesterday as political drama in the eurozone rattled investor confidence and the US dollar and equities declined, lifting investment demand for the haven asset.

December New York gold rose $7 or 0.6 per cent to settle at $1,290 an ounce. Meanwhile, December silver added 25.8 cents or 1.5 per cent to end at $17.255 an ounce.

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