Gold prices surged by Rs 150 to trade at Rs 17,140 per ten gram in New Delhi on heavy buying due to a steep rise in the metal's prices in the overseas market as the dollar weakened.
Silver prices too rose by Rs 700 to Rs 27,800 per kg on buying by industrial units.
Trading sentiment turned bullish after reports that gold was extending its biggest rally in two months in the global markets as the dollar weakened, which boosted demand for the precious metal.
Marketmen said stockists and jewellery fabricators remained net buyers for the current marriage season amid firming global trend.
Standard gold and ornaments continued their winning streak for the third straight day, surging by Rs 150 each to Rs 17,140 and Rs 16,990 per ten gram, respectively.
They had gained Rs 175 each in the last two trading session. Sovereign followed suit and gained Rs 50 to Rs 14,050 per piece of eight gram.
In a similar fashion, silver ready spurted by Rs 700 to Rs 27,800 per kg and weekly-based delivery by Rs 600 to Rs 27,390 per kg. Silver coins gained Rs 100 to Rs 33,500 for buying and Rs 33,600 for selling of 100 pieces.
