Mumbai: Gold prices spurted by Rs 190 to Rs 16,930 per ten grams in the bullion market here today on heavy buying triggered by a firming global trend.
Standard gold and ornaments surged by Rs 190 each to Rs 16,930 and Rs 16,780 per ten grams, respectively, while sovereign gained Rs 25 to Rs 14,025 per eight-gram piece.
Platinum jewellery catches up with gold
Marketmen said a firming trend in the international markets provided a boost to the metal prices here.
Trading sentiment turned bullish as the dollar turned weak against a basket of major currencies after the US Federal Reserve decided to hold benchmark interest rates low. This increased the demand for gold as an alternate investment.
The yellow metal rose 0.5 per cent in the overseas markets to $1,132.80 an ounce.
Brisk buying on festive demand also pushed up gold prices, they added.
In line with the general firming trend, silver ready also rose by Rs 350 to Rs 27,400 per kg and weekly-based delivery by Rs 365 to Rs 27,210 per kg.
However, the rates of silver coins remained unchanged at Rs 33,400 for buying and Rs 33,500 for selling of 100 pieces.
