New Delhi, October 18
Gold prices spurted by Rs 290 to 3-week high of Rs 31,000 per 10 grams on the eve of Diwali at the bullion market today on increased buying by local jewellers to meet festive demand.
A weak trend overseas however capped the gains. Silver held steady at Rs 41,000 per kg in limited deals from industrial units and coin makers. Bullion traders said increased buying by local jewellers, driven by Diwali festival demand in domestic spot markets, mainly led to rise in gold prices.
Globally, gold fell by 0.12 per cent to USD 1,283.20 an ounce and silver by 0.06 per cent to USD 16.98 an ounce in Singapore.
In the national capital, gold of 99.9 and 99.5 per cent purity surged by Rs 290 each to Rs 31,000 and Rs 30,850 per 10 grams respectively, a level last seen on September 27. It had lost Rs 140 yesterday. — PTI
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