MUMBAI: Gold prices firmed up on the bullion market on Wednesday on good stockists demand in view of marriage season coupled with higher global advices. Silver, however, declined on lack of industrial demand. Standard gold (99.5 purity) firmed up by Rs 85 per ten grams to Rs 12,460 from Rs 12,375. Pure gold (99.9 purity) also hardened by Rs 90 per ten grams to Rs 12,520 from Rs 12,430. However, silver ready (.999 fineness) dropped by Rs 60 per kilo to Rs 17,010 from Rs 17,070. Gold prices rose by one per cent in London to its highest level in almost a week as a weaker dollar boosted interest in the precious metal as a currency hedge. Spot gold rose to a session high of $ 786.20 an ounce, and was quoted at $ 784.60/786.60 an ounce up from late New York. Spot silver also rose $ 9.97/10.05 an ounce from $ 9.79 an ounce previously. Gold inched up in Singapore as the euro strengthened against the US Dollar and oil rebounded. Gold was trading at $ 777.75 an ounce, up $ 2.25 from New York's notional close on Tuesday.

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