The precious metals, silver and gold, surged on brisk buying by stockists and jewellers for the ongoing marriage season today, amid a firming global trend. While silver spurted by Rs 1,100 to Rs 56,200 per kg, gold gained Rs 105 to Rs 22,760 per 10 grams.
Trading sentiments bolstered as gold advanced in global markets on deepening sovereign-debt crisis in Europe and slowing economic growth boosting demand for the precious metal as an alternative investment.
In global markets, gold rose by USD 6.70 to USD 1,544.30 an ounce and silver by 2.09 per cent to USD Rs 37.57 an ounce.
Besides, scattered demand from retailers, following the ongoing marriage season further enthused trading sentiments.
On the domestic front, silver ready surged Rs 1,100 to Rs 56,200 per kg and weekly-based delivery rose by Rs 1,050 to Rs 56,050 per kg. However, silver coins remained steady at Rs 61,000 for buying and Rs 62,000 for selling of 100 pieces.
In line with a general firming trend, gold of 99.9 and 99.5 per cent purity shot up by Rs 105 each to Rs 22,760 and Rs 22,640 per 10 grams, respectively, while sovereigns held steady at Rs 18,700 per piece of eight grams.
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