Gold extended gains by Rs 50 to Rs 17,300 per ten gram here today on sustained buying due to a firming trend in the overseas markets.
Buying by retail customers and jewellery fabricators for the marriage and festival season further fuelled the uptrend. The metal recorded a gain of Rs 370 per ten gram in last two trading sessions.
Traders said buying is attributed to the marriage season and festivals like Makar Sankranti, adding that gold rising to a month's high in the overseas markets also signalled a positive trend ahead.
The precious metal rose to its month high in New York and London as a weak dollar increased demand for it as an alternative investment.
Gold shot up $24.10 to $1,163 an ounce in New York, the highest since December 8.
A similar strength was noticed in silver coins, used as marriage gifts and religious offerings. They rose by Rs 100 to Rs 33,800 for buying and Rs 33,900 for selling of 100 pieces.
However, silver ready traded at its last level of Rs 28,750 per kg in limited deals, while weekly-based delivery lost Rs 30 to Rs 28,440 per kg on lack of support from speculators.
Standard gold and ornaments gained Rs 50 each at Rs 17,300 and Rs 17,150 per ten gram, respectively.
The sovereign too rose by Rs 50 to Rs 14,100 per eight-gram piece.
