Gold rallies Rs 1,000; silver plummets Rs 3,000

New Delhi: Rising for the third straight session, gold prices rallied by Rs 1,000 to scale an all-time high of Rs 1,31,800 per 10 grams in the national capital on continuous buying by retailers and jewellers amid the ongoing festive season.

According to the All India Sarafa Association, the precious metal of 99.9 per cent purity had closed at Rs 1,30,800 per 10 grams on Tuesday. In the local bullion market, gold of 99.5 per cent purity appreciated by Rs 1,000 to hit a record of Rs 1,31,200 per 10 grams, from the previous close of Rs 1,30,200 per 10 grams.

However, silver prices retreated from the record levels, plunging by Rs 3,000 to Rs 1,82,000 per kg. The white metal had surged Rs 6,000 to hit a new peak of Rs 1,85,000 per kg on Tuesday. In the international markets, spot gold rose to hit a lifetime high of $4,218.32 per ounce.