Rising for the third straight day, gold prices surged by another Rs 250 to Rs 32,630 per ten gram at the bullion market today largely in tandem with a firm trend overseas amid persistent buying by local jewellers.
Silver followed suit and reclaimed the Rs 41,000-mark by soaring Rs 1,030 to Rs 41,480 per kg due to increased offtake by industrial units and coin makers.
Marketmen said apart from a firm trend overseas, brisk buying by local jewellers to meet wedding season demand in the domestic spot market kept gold prices higher.
Globally, gold rose 0.23 per cent to USD 1,352.30 an ounce and silver by 0.35 per cent to USD 17.23 an ounce in Singapore.
Besides, a depreciated rupee against the dollar made imports of the metal costlier, thus fuelling the uptrend, experts said.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity advanced by Rs 250 each to Rs 32,630 and Rs 32,480 per ten gram, respectively. The precious metal had gained Rs 380 in the previous two sessions.
Sovereign, however, held steady at Rs 24,900 per piece of eight grams.
In line with gold, silver ready spurted by Rs 1,030 to Rs 41,480 per kg and weekly-based delivery by Rs 960 to Rs 40,450 per kg.
Silver coins too flared up by Rs 1,000 to Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.
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