Gold prices touched a new high of Rs 35,970 per 10 gram in the national capital after gaining Rs 100 on Monday due to continued buying from jewellers, according to the All India Sarafa Association.
Silver also followed the suit and gained Rs 260 to Rs 41,960 per kg due to fresh buying from industrial units and coin makers.
“Today’s (Monday) gold price of Rs 35,970 per 10 gram is the highest till date,” said Surendra Jain, vice-president of All India Sarafa Association.
Traders attributed the rise in gold prices to strong demand from local jewellers. Besides, the decline in equity markets also aided the rally in the precious metal as investors moved towards safe-haven assets like gold.
Globally, spot gold was trading almost flat at USD 1,425.60 an ounce, while silver quoting higher at USD 16.40 per ounce. In the national capital, gold of 99.9 per cent and 99.5 per cent purity gained Rs 100 each to Rs 35,970 and Rs 35,800 per 10 gram, respectively.
Sovereign gold also advanced by Rs 100 to Rs 27,500 per eight gram. On Saturday, gold had declined by Rs 80 to Rs 35,870 per 10 gram.
Silver ready rose Rs 260 to Rs 41,960 per kg, while weekly-based delivery climbed Rs 391 to Rs 41,073 per kg. Price of silver coins held flat at Rs 84,000 for buying and Rs 85,000 for selling of 100 pieces.