Gold extends its run, silver also shines

Gold prices maintained their spectacular surge and reached fresh highs at the domestic bullion market here today on investment-driven buying fuelled by the ongoing bullish trend in international market.

Silver also galloped to revisit its three-month high on hectic speculative activity on the back rising industrial demand.

Standard gold (99.5 purity) advanced by Rs 225 per 10 grams to end at Rs 27,975 from Friday's closing level of Rs 27,750. Pure gold (99.9 purity) hardened by Rs 235 per 10 grams to close at Rs 28,105 as against Rs 27,870 previously.

Silver ready (.999 fineness) jumped by Rs 2,420 per kg to conclude at Rs 66,220 from Rs 63,800 yesterday.

In global market, the yellow metal's risk aversion tag is increasing day by day amidst dismal view of global growth prospect which is supporting the metal, analysts said.

In New York, gold for December delivery rose by $30.20 to $1,852.20 an ounce on the Comex division of the NYMEX yesterday, while silver for September delivery spurted by $1.74 to settle at $42.43 an ounce.