Gold price rises for 3rd day, hits 2-week high of Rs 30,540 per 10 grams

Gold price rose for the third consecutive day on Thursday and ended up by Rs 160 at its two-week high of Rs 30,540 per 10 grams on jewellers buying, tracking a firming trend overseas.

At the Multi Commodity Exchange (MCX), gold for delivery in December moved higher by Rs 89, or 0.30 percent, to Rs 29,990 per 10 grams.

Sentiment bolstered after gold advanced to its highest level in two weeks highest level in global markets as a weakening dollar attracted buyers in exchange-traded funds backed by the metal amid mounting speculation that the US interest-rate increases will be gradual.