Mumbai: Gold prices surged to hit over one-month high at the bullion market on Tuesday, taking positive cues from global market amid pick up in buying by jewellers to meet wedding season demand.Silver too climbed by INR 270 per kg on increased offtake by industrial units.
Standard gold (99.5 purity) rose by INR 165 to finish at INR 28,560 per 10 grams from Monday's closing level of INR 28,395.Pure gold (99.9 purity) also gained by a similar margin to close at INR 28,710 per 10 grams against INR 28,545.Silver (.999 fineness) gained by INR 270 to conclude at INR 40,910 per kg from Monday's close of INR 40,640.
Globally, gold rallied to its highest level in more than a month as the dollar dipped on jitters before a news conference by US President-elect Donald Trump on Wednesday and on Britain's uncertain exit from the European Union.
Spot gold hit its highest since Dec 5 at USD 1,187.61 an ounce and was up 0.2 percent to USD 1,183.61 an ounce at early European trade. Silver was flat at USD 16.57 an ounce. (PTI)