Gold prices maintain rising level; Should you buy now?

Mumbai, Feb 4: Gold prices strengthened for the second session at the bullion market here today on sustained demand from stockists even as the metal weakened overseas. However, silver slipped due to reduced offtake by industrial units. Standard gold (99.5 purity) rose by Rs 185 to close at Rs 30,485 per 10 grams from Thursday's level of Rs 30,300. Pure gold (99.9 purity) also moved up by the same margin to finish at Rs 30,635 per 10 grams compared to Rs 30,450 yesterday. However, silver (.999 fineness) dropped by Rs 65 per kg to finish at Rs 39,270 as against Rs 39,335 previously. Globally, Gold edged lower as the dollar ticked up against the euro ahead of hotly anticipated US non-farm payrolls data later, which will be closely watched for clues on the outlook for US interest rates. Spot gold was down 0.3 per cent at USD 1,345.22 an ounce at early trade.