Gold prices on 15 May surged by Rs 325 per 10 gms to a three month high at Rs27,890 per 10 grams in the Delhi bullion market amid a firming trend in global markets and wedding season demand.
In addition, an appreciating rupee against the USD which made imports cheaper also weighed on the prices.
Gold in Singapore, which sets price trend on the domestic front, decreased from 0.2% to USD1,218.95 an ounce, while silver reduced from 0.5% to USD17.37 an ounce.
In Delhi, the prices of 99.9 percent and 99.5 percent purity climbed by Rs 325 each to Rs 27,890 and Rs 27,740 per 10 grams, respectively.
Silver also recorded a handsome gain of Rs 1,000 at Rs 39,500 per kg on increased offtake by industrial units and coin makers.
Following gold, silver ready too declined by Rs100 to Rs39,400 per kg,but weekly-based delivery advanced by Rs185 to Rs39,635 per kg on speculative buying. Silver coins also supported by Rs1,000 to Rs58,000 for buying and Rs59,000 for selling of 100 pieces.