Gold prices climbed to hit another record peak at the bullion market on Wednesday on sustained demand by stockists and investors, well supported by strong overseas cues.

Silver continued its ceaseless speculative momentum to rally further amidst good industrial buying.

Standard gold (99.5 purity) advanced by Rs 160 to close at Rs 31,480 per 10 gm from Tuesday’s closing level of Rs 31,320.

Pure gold (99.9 purity) also rose by Rs 155 to finish at Rs 31,620 per 10 gm from Rs 31,465.

Silver ready (.999 fineness) rallied by a Rs 325 per kg to conclude at Rs 61,325 as against Rs 61,000 previously.

In New York, gold surged to its highest level pinning hopes over further stimulus measures from global central banks to boost their respective economies.

Gold for December delivery gained $8.40 to $1,696 an ounce on the Comex division of the NYMEX late yesterday.

Silver for December contract also rose 97 cents to $32.41 an ounce.

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