Buoyed by the strong seasonal demands, gold prices Wednesday jumped by Rs.650 to Rs.27,470 per 10 grams in the national capital.
The ongoing wedding season in the country acted as a catalyst to raise the price of the yellow metal.
Silver also gained Rs.1,600 to reach Rs.38,400 per kg on better offtake by industrial units and coin makers.
Finance Minister Arun Jaitley Tuesday mentioned that huge quantity of gold import is adding to the current account deficit of the country.