Silver also surged on hectic speculative demand on the back of heavy industrial buying.
Standard gold (99.5 purity) rose by Rs 205 to end at Rs 29,905 per 10 grams from Wednesday's closing level of Rs 29,700.
Pure gold (99.9 purity) gained by Rs 210 to close at Rs 30,040 per 10 grams from Rs 29,830.
Silver ready (.999 fineness) spurted by Rs 645 per kg to finish at Rs 53,610 as compared to Rs 52,965 yesterday.
In New York, gold shot up on weak dollar amidst optimism over easing eurozone debt crisis following ECB comments on granting a banking licence to bailout fund, European Stability Mechanism (ESM).
Gold for August delivery climbed USD 31.90 to USD 1,608.10 an ounce on the Comex division of the NYMEX late yesterday.
September silver contract were up by 66 cents to USD 27.47 an ounce.
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