New Delhi: Gold on Wednesday regained the Rs29,000 level after nearly four months by surging Rs755 to Rs29,200 per 10 grams in the national capital on brisk buying by stockists and investors driven by firming global trend. Silver also zoomed up by Rs915 to Rs42,260 per kg on increased offtake by industrial units and coin makers. The sentiment bolstered after gold climbed in global markets as investors awaited the conclusion of a Federal Reserve meeting on whether the central bank may start reducing its stimulus program in the coming months, traders said. Gold in Singapore, which normally sets the price trend on the domestic front, rose by one per cent to $1,339.74 an ounce and silver by 1.4% to $20.01 an ounce. Weak rupee against us dollar which make the import of the precious metals costlier and investors shifting funds from melting equities also influenced the sentiment. On the domestic front, gold of 99.9 and 99.5% purity spurted by Rs755 each to Rs29,200 and Rs29,000 per 10 grams, respectively, a level last seen on 12 April. However, sovereigns held steady at Rs24,400 per piece of eight grams in scattered deals. In a similar fashion, silver ready jumped up by Rs915 to Rs42,260 per kg and weekly-based delivery by Rs42,160 per kg respectively. Silver coins also sky-rocketed by Rs1000 to Rs81,000 for buying and Rs82,000 for selling of 100 pieces.

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