Gold prices surged to hit over one-month high at the bullion market on Tuesday, taking positive cues from global market amid pick up in buying by jewellers to meet wedding season demand.
Silver too climbed by Rs. 270 per kg on increased offtake by industrial units.
Standard gold (99.5 purity) rose by Rs. 165 to finish at Rs. 28,560 per 10 grams from Monday’s closing level of Rs. 28,395.
Pure gold (99.9 purity) also gained by a similar margin to close at Rs. 28,710 per 10 grams against Rs. 28,545.
Silver (.999 fineness) gained by Rs. 270 to conclude at Rs. 40,910 per kg from Monday’s close of Rs. 40,640.
Globally, gold rallied to its highest level in more than a month as the dollar dipped on jitters before a news conference by U.S. President-elect Donald Trump on Wednesday and on Britain’s uncertain exit from the European Union.
Spot gold hit its highest since Dec 5 at $1,187.61 an ounce and was up 0.2 percent to $1,183.61 an ounce at early European trade.
Silver was flat at $16.57 an ounce.
