Firming global trend and meltingdomestic equities helped gold prices reach a new high at Rs17,400 per 10 gram in the bullion market here today.
Marketmen said the bullion market drew support fromreports that gold in international markets surged to anall-time high of 1,153.90 dollar an ounce.
Besides, some investors were seen shifting from meltingequity market to rising bullion for quick gains, boosting thedemand for the metal, they said.
"The precious metals are more fancy of investors indomestic as well as overseas markets these day as a betteroption for making fast profits," said Rakesh Anand of R KJewellers.
Marketmen said increased buying by stockists andjewellery fabricators for the ongoing marriage season wasanother factor that lifted the gold prices.
Standard gold and ornaments added another Rs 30 each toRs 17,400 and Rs 17,250 per 10 gram respectively, whilesovereign was unchanged at Rs 13,500 per piece of eight gram.
Silver ready remained steady at Rs 28,600 per kg inrestricted buying, while weekly-based delivery strengthened byRs 105 to Rs 28,200 per kg on speculators buying.
Silver coins continued to be asked around previous levelof Rs 34,000 for buying and Rs 34,100 for selling of 100pieces.
