New Delhi Gold's two-week winning run proceeded, as its prices surged Rs. 245 to a three-month high of Rs. 27,425 per 10 grams at the bullion market, driven by a firming worldwide pattern and substantial purchasing by jewelers to take care of wedding season demand.
Silver additionally picked up Rs. 100 to Rs. 36,600 per kg, because of expanded offtake by industrial units and coin makers.
Bullion merchants said other than a firming pattern abroad where gold recorded its greatest rally in seven months, energetic purchasing by diamond setters to take care of rising regular demand primarily lifted gold prices, to right around a three-month high.
All around, gold in New York, which regularly sets value pattern on the residential front, increased 0.6 for every penny to USD 1,159.60 an ounce in yesterday's trade. Prices aroused 4.2 for every penny this week, the most since January 16. Decreases crosswise over worldwide value markets prodded interest for the yellow metal as a place of refuge.
Moreover, a deteriorating rupee against the dollar, making imports extravagant, likewise upheld the upward development in gold prices, they said. In the national capital, gold of 99.9 per cent and 99.5 per cent virtue surged Rs. 245 each to Rs. 27,425 and Rs. 27,275 for every 10 grams, individually, a level keep going seen on May 26.
The valuable metal had picked up Rs. 2,200 in past 12 days. The sovereign, on the other hand, held relentless at Rs. 22,600 for every bit of eight grams. Silver promptly rose further by Rs. 100 to Rs. 36,600 per kg and week after week based conveyance by Rs. 15 to Rs. 36,200 per kg.
Then again, the cost of silver coins for 100 pieces was unaltered at Rs. 52,000 for purchasing and Rs. 53,000 for offering.