Gold prices on Tuesday climbed by Rs 90 to Rs 19,480 per ten grams, little short of Rs 19,500 level on September 30, on buying spree at home for the coming festival and marriage season amid firming global trend.
The precious metal regained strength on hectic buying amid reports that gold in London had touched a high of 1,329.60 dollars an ounce. Trading sentiment was bolstered by a rally in overseas markets after Japan decided to cut key interest rates and step up asset purchases to tackle a fast-appreciating Yen against a weakening dollar.
This boosted gold's demand as safe investment alternative. Besides, silver held steady at Rs 33,700 per kg on restricted buying by traders and industrial units at existing higher levels. The gold of 99.9 and 99.5 per cent purity rose by Rs 90 each to Rs 19,480 and Rs 19,380 per ten grams respectively.
Sovereign held steady at Rs 15,400 per piece of eight grams in restricted buying activity. On the other hand, silver ready maintained previous levels of Rs 33,700 per kg, while silver weekly-based delivery lost Rs 35 to Rs 33,190 per kg, on lack of necessary buying support. Silver coins continued to trade around previous levels of Rs 35,400 for buying and Rs 35,500 for selling of 100 pieces.