Gold price climbed a new peak today by rising Rs 50 to Rs 29,490 per 10 grams on sustained buying by stockists to meet the ongoing marriage season demand amid a firming global trend.
The precious metal has surpassed its previous record rate of Rs 29,440 per 10 grams set on November 30.
Silver followed suit and surged by Rs 1,050 to Rs 56,950 per kg on increased offtake by industrial units and jewellery makers, amid a similar firming trend in the Asian region.
The trading sentiment remained bullish on sustained buying by stockists, jewellers and retailers for the ongoing marriage season, traders said.
The trend was further supported as the precious metals continued to gain fresh ground on all-round buying as a hedge against turmoil in financial markets, they said.
Gold in global markets, which normally sets the price trend on the domestic front, traded higher by USD 2.80 to USD 1,748.10 an ounce and silver by 1.50 per cent to USD 33.22 an ounce in Singapore.
