Gold prices rise by Rs 325 to regain the Rs 30,000-mark and trade at over 4-month high of Rs 30,175 per 10 grams at the bullion market today, amid a firm overseas trend and wedding season buying by jewellers.
Gold prices had touched Rs 30,325 per 10 grams on October 18, 2016.
Silver too followed suit and surged by Rs 600 to Rs 43,800 per kg on increased offtake by industrial units and coin makers.
Bullion traders said sentiment got a boost after gold climbed in global markets as weakness in the dollar pushed up demand for precious metals as safe-haven.
Globally, gold rose 0.61 per cent to USD 1,256.90 an ounce, a level last seen in November last year, and silver rose 0.99 per cent to USD 18.33 an ounce in New York in yesterday’s trade.
Besides, increased buying by local jewellers, triggered by ongoing wedding season demand also supported the upmove, they said.
In the national capital, gold of 99.9 and 99.5 per cent purity rose by Rs 325 each to Rs 30,175 and Rs 30,025 per 10 grams respectively, a level last seen on October 18, 2016.
