Silver also rose for the fourth day by gaining Rs 370 to Rs 48,250 per kg on increased offtake by jewellers and industrial units. (Agencies)
Traders said sustained buying by stockists and retailers for the ongoing marriage season mainly led an upward trend in precious metals.
Firming global trend, where gold and silver rose to 16-week high on speculation that weakening US growth and turmoil in Ukraine will boost demand for the precious metals as a haven, also supported the uptrend, they said.
Gold in New York, which normally sets price trend on the domestic front, climbed 1.1 percent to USD 1,338 an ounce, the highest since October 31. Silver also moved up by 1.3 percent to USD 22.08 an ounce, the highest since October 31.
On the domestic front, gold of 99.9 and 99.5 percent purity rose by Rs 15 each to Rs 31,365 and Rs 31,165 per ten gram respectively. It had gained Rs 200 in last two days.
Sovereign shot up by Rs 100 to Rs 25,500 per piece of eight gram.
In a similar fashion, silver ready rose further by Rs 370 to Rs 48,250 per kg and weekly-based delivery by similar margin to Rs 47,850 per kg. The white metal had gained Rs 380 in the previous three sessions.
Silver coins, however, held steady at Rs 89,000 for buying and Rs 90,000 for selling of 100 pieces.
Silver also rose for the fourth day by gaining Rs 370 to Rs 48,250 per kg on increased offtake by jewellers and industrial units.