NEW DELHI, OCT 14: Gold prices surged Rs 385 to close at over two-week high of Rs 27,185 at the bullion market today on increased buying by jewellers, driven by ongoing festive and wedding season demand.
Bullion traders attributed the rise in the price of the precious metal to the firming global trend where gold soared to a three-month high as investors see less chance of higher US borrowing costs this year.
Pick up in buying activity on beginning of Navratras, an auspicious period of making a fresh purchases in Hindu religion, also supported the upside in the prices, they added.
In the national capital, gold of 99.9 and 99.5 per cent purity, spurted by Rs 385 each to Rs 27,185 and Rs 27,035 per ten gram respectively.
Sovereign, rose by Rs 100 to Rs 22,500 per piece of eight gram.
Following gold, silver ready recovered by Rs 500 to Rs 37,300 per kg and weekly-based delivery by Rs 615 to Rs 37,480 per kg.
Silver coins zoomed Rs 1,000 to Rs 52,000 for buying and Rs 53,000 for selling of 100 pieces.
