Gold prices shot up by Rs 65 to Rs 20,770 per ten grams in the bullion market here today on fresh buying by jewellery makers for the ongoing marriage season, amid signs of global rates going up.
Traders said gold prices gained, as there was a fresh demand from jewellery makers to meet the ongoing marriage season demand.
Gold of 99.9 and 99.5 per cent purity rose by Rs 65 each to Rs 20,770 and Rs 20,650 per ten grams, respectively. The sovereign remained steady at Rs 16,750 per piece of eight grams.
The rise was also aided by a firming trend overseas, traders added. Gold prices in London rose by five dollars to $1,390.80 in early trade.
An increased offtake by industrial units and coins makers saw prices of silver ready rising by Rs 400 to Rs 44,300 per kg. Silver weekly-based delivery shot up by Rs 435 to Rs 43,835 per kg on speculator's support.
Silver coins held steady at Rs 48,900 for buying and Rs 49,000 for selling of 100 pieces.
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