Gold prices rallied by Rs 240 per ten grams to Rs 13,240 on the bullion market here today on persistent stockists demand, triggered by sharp rise in global markets.
Silver also strengthened further on good industrial demand.
Gold prices rose in New York by 4 per cent as a weaker dollar enhanced the metal’s appeal as an investment alternative.
Gold for February delivery ended up by USD 32.80 at USD 839.60 an ounce on the Comex Division of the New York Mercantile Exchange.
March silver also gained by 7.4 per cent to USD 11.215 an ounce.
Turning the local market, standard gold (99.5 purity) rose by Rs 240 per ten grams to Rs 13,240 from the yesterday’s closing level of Rs 13,000.
Pure gold (99.9 purity) also shot up by Rs 235 per ten grams to Rs 13,300 from Rs 13,065.
Silver ready (.999 fineness) hardened by Rs 345 per kilo to Rs 18,515 from Rs 18,170.