Gold and silver rallied further here on Saturday on sustained speculative and investment buying sparked by rising global markets.
On the global front, gold continued its surge over positive views on U.S. economy at the Federal Reserve meet, which, however, sidelined discussion on further quantitative easing measures.Gold in global marketsrecorded a handsome gains of $57.80 to $1829.10 an ounce.
In New York, gold for December delivery gained $34.10 to $1,797.30 an ounce on the comex division of the NYMEX. September silver rose by 21 cents to $40.95 an ounce.
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In Mumbai, standard gold (99.5 purity) jumped by Rs. 860 to finish at Rs. 27,665 from Friday's closing level of Rs. 26,805 (10 gram). Pure gold (99.9 purity) shot up by a similar margin to close at Rs. 27,790 against Rs 26,930 (10 gram). Silver ready (.999 fineness) climbed by Rs. 955 per kg to end at Rs. 64,440 against Rs 63,485 a kg.
In New Delhi, gold prices rose sharply by Rs. 950, the second biggest one-day gain, to regain the Rs. 28,000 level on heavy buying, driven by a recovery move in global markets.Silver also staged a strong come back by rising Rs. 2,100 to Rs. 64,600 a kg.