Gold reaches new high of 29,440 on seasonal demand

Gold gained 175 rupees, to hit a new all-time peak of 29,440 rupees per ten grams at Delhi’s bullion market, on Wednesday, on seasonal demand, and a firm trend in the overseas market. Silver rose 400 rupees, to 57,900 rupees per kilo, on buying by stockists and industrial units.

In New York, gold advanced 0.04 per cent, to 1,781 dollars an ounce. Silver added 1 per cent, to 34.57 dollars an ounce.