Gold prices soared at the bullion market on the sustained demand from investors and retailers amidst festive spirit of ‘Akshaya Tritiya’ where buying precious metals, especially gold, is considered auspicious.
Silver also recovered modestly on back of stray buying support from speculators.
Standard gold (99.5 purity) spurted by Rs 250 to finish at Rs 28,885 per 10 gm from Monday’s close of Rs 28,635.
Pure gold (99.9 purity) also climbed by Rs 255 to end at Rs 29,025 per 10 gm from Rs 28,770.
Silver ready (.999 fineness) moved up by Rs 60 per kg to close at Rs 56,750 as compared to Rs 56,690 previously.
Meanwhile, in New York gold fell on concerns over Eurozone political developments and lower manufacturing data from China.
Gold for June delivery dropped $10.20 to $1,632.60 an ounce on the Comex division of the NYMEX late yesterday.
May silver contract declined $1.12 to $30.53 an ounce.