Gold prices surged by Rs 175 to Rs 31,725 per 10 gram at the bullion market Tuesday, driven by a firm global trend amid persistent buying by local jewellers.
Silver also went up by Rs 190 to Rs 38,290 per kg on increased offtake by industrial units and coin makers.
Traders said gold prices were higher owing to a firm trend overseas as investors were cautious ahead of a US Fed meeting, which could offer direction on future interest rate hikes, while markets kept a close watch on China-US trade war.
Globally, gold rose 0.03 per cent to USD 1,199.20 an ounce and Silver by 0.04 per cent to USD 14.23 an ounce in Singapore.
Besides, increased buying by local jewellers at the