Mumbai: Gold prices continued to scale higher for the fourth straight day at the bullion market here on Wednesday on sustained local buying as well as from jewellers, sparked by a steep rise in international markets.
Silver also spurted due to heavy demand from industrial users amid stockists support.
Standard gold (99.5 purity) moved up by Rs40 per ten grams to close at Rs16,750 from its previous closing level of Rs16,710.
Pure gold (99.9 purity) looked up by a similar margin of Rs40 per ten grams to end at Rs16,835 as against Rs16,795 previously.
Silver ready (.999 fineness) jumped by Rs455 per kilo to finish at Rs25,855 from Rs25,400 of yesterday.
In London, gold prices rose above $1,120 an ounce to a two-week high as the euro extended its overnights gains against the dollar.
Spot gold was bid at $1,119.15 an ounce in early trade as against $1,118.95 late in New York on Tuesday.
US gold futures for April delivery improved by $2.60 to $1,121.90 an ounce on the Comex division of the NYMEX.
Silver was bid at $16.18 an ounce as against $16.12.