Gold prices soared Rs. 160 to Rs. 18,760 per ten grams in the national capital on Friday on sustained buying by stockists and jewellers driven by a rising demand for the festival season, amid a firm global trend.
Silver also shot up by Rs. 200 to Rs. 29,300 per kg on heavy buying by stockists and industrial units.
Trading sentiment remained bullish after gold traded at a four-week high in London on concerns of the slow global economic thus raising demand for the precious metal as a save haven.
Global bullion markets, which normally sets a price trend on the domestic front, witnessed gold gaining USD 3.72 to USD 1,217.57 an ounce, the highest price since July 14.
On the domestic front, gold of 99.99 per cent and 99.5 per cent purity surged further by Rs. 160 each to Rs. 18,760 and Rs. 18,660 per ten grams, respectively. It had gained Rs. 175 in the previous sessions.
Sovereigns followed suit and added Rs. 50 to Rs. 14,800 per piece of eight grams.
In a similar fashion, silver ready recovered by Rs. 200 to Rs. 29,300 per kg and weekly-based delivery by Rs. 215 to Rs. 29,005 per kg on speculations.
However, silver coins remained steady at Rs. 34,400 for buying and Rs. 34,500 for selling of 100 pieces in thin trade.
