Gold surges Rs 3,040, silver soars Rs 5,800

New Delhi: Gold prices surged by Rs 3,040 to Rs 1,33,200 per 10 grams in the national capital, tracking strong global trends and a weak US dollar, according to the All India Sarafa Association. Analysts said sustained jewellery demand amid the ongoing wedding season supported the precious metal. The precious metal of 99.5 per cent purity zoomed by Rs 3,040 to Rs 1,32,600 per 10 grams.

Gold is now inching closer to its all-time high of Rs 1,34,800 per 10 grams (99.9 per cent purity) and Rs 1,34,200 per 10 grams (99.5 per cent), respectively, traders said. Silver continued its upward march for the fifth straight day, surging by Rs 5,800 to Rs 1,77,000 per kilogram, as per the association.

In the international market, spot gold rose by $42.29, or 1 per cent, to $4,261.52 per ounce, as the dollar index was quoting 0.19 per cent lower at 99.27, lending support to bullion prices.