Gold prices on Friday surged by Rs. 200 to Rs. 19,100 per 10 gram in the bullion market here on brisk buying by stockists and jewellers amid firm global cues.
Silver also shot up by Rs. 300 to Rs. 29,900 per kg on increased buying from industrial users and coins makers.
Marketmen said gold in overseas markets, which normally set the price trend on the domestic front, rose by 3.45 dollars to 1,246.90 dollars an ounce, which supported the firming trend here. Gold rose in global markets as investors buy the metal to protect their wealth amid financial market turbulence.
Brisk buying by stockists and jewellers amid the marriage season also supported the upsurge in gold and silver prices, they added.
Shifting of funds from weakening equity markets to bullion further fuelled the uptrend.
Gold of 99.9 per cent purity and 99.5 per cent purity surged by Rs. 200 each to Rs. 19,100 and Rs. 19,000 per 10 grams respectively. Sovereign also gained Rs. 25 to Rs. 14,675 per piece of eight gram.
In line with a general firming trend, silver ready spurted by Rs. 300 to Rs. 29,900 per kg and weekly-based delivery by Rs. 253 to Rs. 29,535 per kg.
Silver coins also enquired higher by Rs. 100 to Rs. 34,600 for buying and Rs. 34,700 for selling of 100 pieces.
Keywords: bullions report