It's not only the gold but silver also glittered on the bullion market in New Delhi on Wednesday as the white metal surpassed its previous highs to scale another historic peak to close at Rs 27,375 per kilogram on buying by stockists supported by a sharp rally in overseas markets.
Gold firmed up smartly due to sustained local buying interest ahead of the Diwali festival amid higher global cues.
In London, gold touched a record high on the spot and futures markets, with dollar weakness continuing to support sentiment by attracting fresh investment in the precious metals, traders said.
Silver for December delivery in New York on Tuesday rose by 76.5 cents, or 4.6 per cent, to finish at $17.30 an ounce. Spot gold in London rose to a fresh historic high of $1,045.85 an ounce in early trade.
Gold for December delivery on the US Comex futures market hit at $1,046.80 an ounce.
Turning to the domestic market, silver ready (.999 fineness) spurted by Rs 480 per kilo to close at Rs 27,375 from Tuesday's closing level of Rs 26,895.
Standard gold (99.5 purity) firmed up by Rs 165 per ten grams to end at Rs 15,845 from Rs 15,680 previously.
Pure gold (99.9 purity) also hardened by a similar margin to Rs 15,925 as against Rs 15,760 on Tuesday.
