Gold and silver prices spiked at the domestic bullion market in Mumbai on Monday, on good demand from stockists and investors. The market sentiment turned highly bullish and speculative as trading resumed after a gap of three days amidst an indefinite strike call given by jewellers and traders in protest against the budgetary proposal of a duty rise on gold imports.
Standard gold of 99.5 per cent purity surged by Rs 415 to end at Rs 28,275 per 10g from last Wednesday's closing level of Rs 27,860. Silver ready (.999 fineness) jumped by Rs 585 a kg to finish at Rs 56,915, as compared to Rs 56,330 previously.
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