Gold prices surged by Rs 140 to Rs 15,440 per 10 gram in the national capital today on emergence of buying sparked by firming global trend and investors shifting funds from melting stocks to bullion.
Silver followed the same trend and rose by Rs 80 to Rs 22,170 per kg.
Buying activity in gold picked up after reports that the precious metal rose in overseas market, by adding 2.95 dollar at 926.10 dollar an ounce.
Some investors sold equities, after the Bombay Stock Exchange benchmark Sensex tumbled over 500 points during the day, and invested in the gold as a better option.
Scattered small buying for the ongoing "Navratra" festival, considered to be an auspicious time in Hindu mythology for purchasing new gold, also supported the uptrend, they added.
Standard gold and ornaments surged by Rs 140 each to Rs 15,440 and Rs 15,290 per 10 gram, respectively. Sovereign, remained flat at Rs 12,400 per piece of eight gram.
In a similar fashion, silver ready rose by Rs 80 to Rs 22,170 per kg and weekly-based delivery by Rs 100 to Rs 22,290 per kg. Its coins, however, continued to be asked around previous level of Rs 28,300 for buying and Rs 28,400 for selling of 100 pieces.