Globally, gold rose by about 1 per cent, as European shares fell and inflows into bullion funds continued.
MUMBAI – Riding on a global trend, gold prices surged at the domestic bullion market on Tuesday following strong offtake from investors and jewellers.
Silver also shot up on increased demand from industrial units.
Standard gold (99.5 purity) surged by Rs 220 to finish at Rs 28,720 per 10 grams from Monday’s closing level of Rs 28,500.
Pure gold (99.9 purity) also rose by a similar margin to end at Rs 28,870 per 10 grams as compared to Rs 28,650 earlier.
Silver (.999 fineness) climbed by Rs 490 per kg to finish at Rs 37,525 from Rs 37,035 on Monday.
Globally, gold rose by about 1 per cent, as European shares fell and inflows into bullion funds continued, boosting prices.
Spot gold was up 0.8 per cent at USD 1,217.70 an ounce in early trade. Prices had fallen 1.6 per cent on Monday, while the dollar and equities rallied.
Among other precious metals, silver rose by 0.4 per cent to USD 15.22 an ounce after hitting a two-week low of USD 14.90 on Monday.
