Both gold and silver rose in the bullion market in New Delhi on Tuesday on buying by stockists and jewellery makers for the coming festive season amid a firm global trend.
While gold spurted by Rs. 220 to Rs. 30,520 per 10 grams, silver shot up by Rs. 1,000 to Rs. 54,000 per kg on increased offtake by jewellers and industrial units.
Silver coins followed suit and rose by Rs. 1,500 to Rs. 63,500 for buying and Rs. 64,500 for selling of 100 pieces.
Traders said sentiment turned bullish on buying by stockists and jewellers for the coming festival and marriage season.
A firming trend in the global markets also influenced the sentiments.
In London, gold rose by $1.30 to $1,623.20 an ounce and silver by 0.25 per cent to $28.25 an ounce.
On the domestic front, gold of 99.9 and 99.5 per cent purity surged Rs. 220 each to Rs. 30,520 and Rs. 30,320 per 10 grams, respectively.
Sovereign followed suit and rose by Rs. 50 to Rs. 24,500 per piece of eight grams.
In a similar fashion, silver ready climbed by Rs. 1,000 to Rs. 54,000 per kg and weekly-based delivery by Rs. 960 to Rs. 54,195 per kg.