Mumbai, Jan 12 (PTI) Gold prices recovered smartly at the bullion market here today taking positive cues from global market amid pick-up in buying by local jewellers to meet wedding season demand.

Elsewhere, silver also firmed up owing to higher industrial demand.

Standard gold (99.5 purity) strengthened by Rs 235 to end at Rs 29,830 per 10 grams from yesterday’s closing level of Rs 29,595.

Pure gold (99.9 purity) also added by a similar margin to settle at Rs 29,980 per 10 grams as compared to Rs 29,745.

Silver (.999 fineness) rose by Rs 255 per kg to finish at Rs 38,850 from Rs 38,595 earlier.

Globally, Gold rose to a four-month high and was on track for a fifth straight weekly gain as the dollar fell against the euro on an agreement for a political coalition in Germany.

Spot gold rose 0.7 per cent to USD 1,331.62 an ounce at early trade.

Among other precious metals, spot silver rose 0.9 per cent to USD 17.13 an ounce, heading for its first weekly loss in five weeks. Silver is up 0.6 per cent so far this week.

This is published unedited from the PTI feed.