New Delhi: Gold prices surged by Rs305 to Rs31,930 per ten gram in the national capital on Wednesday on brisk buying by stockists and jewellers to meet the rising seasonal demand amid strong global trend. Silver too zoomed by Rs1,190 to Rs50,200 per kg on increased offtake by industrial units and coin makers for coming festivals led by Diwali and ongoing marriage season. Traders said brisk buying by stockists and jewellery fabricators to meet the rising festive and wedding demand mainly led an upsurge in gold and silver prices. Silver and gold coins, which are normally used for pooja on Diwali and gifting purpose during marriage celebrations, remained in keen demand. Firm global trend after payrolls in the US climbed, increasing speculation the Federal Reserve will maintain monetary stimulus to boost the economy, also influenced the sentiment, they said. Gold in New York, which normally sets price trend on the domestic front, climbed 2% to $1,342.60 an ounce, nearing the highest level since 30 September. Silver also climbed 2.3% to $22.79 an ounce. On the domestic front, gold of 99.9 and 99.5% purity surged by Rs305 each to Rs31,930 and Rs31,730 per ten gram, respectively, while sovereign held steady at Rs25,300 per piece of eight gram. In a similar fashion, silver ready surged by Rs1,190 to Rs50,200 per kg and weekly-based delivery by Rs700 to Rs50,000 per kg. However, silver coins held steady at Rs87,000 for buying and Rs88,000 for selling of 100 pieces.

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