Riding on the tailwinds of global cues and domestic buying, gold prices covered up by Rs 160 to Rs 28,760 per 10 grams today. Silver too was back on the top of the Rs 39,000 level as it surged Rs 400 to Rs 39,300 per kg, spurred by higher buying by industrial units and coin makers.
According to traders, a shaky dollar gave the precious metals some traction among investors, which too found support from local jewellers at the domestic market. Globally, gold rose by 0.51 per cent to USD 1,243 an ounce and silver by 0.03 per cent to USD 16.84 in Singapore.
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In the national capital, gold of 99.9 per cent and 99.5 per cent purity recovered by Rs 160 each to Rs 28,760 and Rs 28,610 per 10 grams, respectively. The yellow metal had ceded Rs 30 yesterday. Sovereign traded higher by Rs 100 to Rs 24,400 per piece of eight grams.
Tracking gold, silver ready surged by Rs 400 to Rs 39,300 per kg and weekly-based delivery by Rs 280 to Rs 39,000 per kg. In keeping with the overall direction, silver coins went up by Rs 1,000 to Rs 70,000 for buying and Rs 71,000 for selling of 100 pieces.