Silver also shot up due to heavy speculative offtake on the back of higher industrial demand.
In the global market, the yellow metal surged with all-round broad-based buying of commodities amidst strong euro as well as investors expectation of a result oriented action by European Central Bank policy meeting later for tackling the eurozone debt crisis.
Standard gold (99.5 purity) rose by Rs 130 to close at Rs 29,940 per 10 gm from Tuesday's closing level of Rs 29,810.
Pure gold (99.9 purity) also went up by Rs 115 to finish at Rs 30,075 per 10 gm from Rs 29,960.
Silver ready (.999 fineness) zoomed by Rs 1,330 per kg to end at Rs 55,915 as against Rs 54,585 yesterday.
In Europe, spot gold was bid higher at USD 1,633.18 an ounce in early trade, while silver was up at USD 29.23 an ounce.
