Gold prices rose by Rs 55 to touch fresh all-time high of Rs 29,750 per 10 grams in the bullion market here today on sustained buying from stockists and investors even though the metal declined in global markets.
Silver,on the other hand,remained under selling pressure and declined by Rs 300 to Rs 55,900 per kg on lack of buying support.
Traders said sustained buying by stockists and investors along with a weakening rupee pushed the gold’s prices to scale new height even though globally the yellow metal prices were down.
In London,gold fell by 0.4 per cent to USD 1,628.90 an ounce.
The trend in the overseas markets normally sets a price in the domestic market as well,they added.
Back home,gold of 99.9 and 99.5 per cent purity rose by Rs 55 each to Rs 29,750 and Rs 29,610 per 10 grams,respectively.
Sovereign followed suit and rose by Rs 50 to Rs 23,800 per piece of eight grams.
Silver ready,however,fell further by Rs 300 to Rs 55,900 and weekly-based delivery by 310 to Rs 56,400 per kg.
Silver coins too declined by Rs 1,000 to Rs 65,000 for buying and Rs 66,000 for selling of 100 pieces on reduced offtake.