Gold prices surged by Rs 425 to Rs 33,215 per 10 gram in the New Delhi on Monday, according to a PTI report. It said that as per the All India Sarafa Association the rates spiked due to increased buying by jewellers amid firm trend overseas.
Silver rates also rose by Rs 170 to Rs 38,670 a kg on increased offtake by industrial units and coin makers.
Traders of the metal said that gold prices increased on positive trend overseas and rise in demand from local jewellers.
In the international market, spot gold hit a one-week trading high of $1,297.86 an ounce, its highest since 29 March. Meanwhile silver moved upward to $15.23 an ounce in New York.
In New Delhi, the price of 10 grams of 24-carat gold (99.9 percent purity) rose by Rs 425 to Rs 33,215 and price of 99.5 percent purity yellow metal increased Rs 33,045.
On Saturday, gold prices were at Rs 32,790 per 10 gram. However, sovereign gold held steady at Rs 26,400 per eight gram. Silver ready advanced by Rs 170 to Rs 38,670 a kg, while weekly-based delivery gained Rs 594 to Rs 37,753 a kg. On the other hand, silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.
Inputs from PTI