Gold At Fresh All-Time High, Silver Rise Rs 1,035

New Delhi: Gold prices rose by Rs150 to hit a fresh all-time high of Rs78,450 per 10 grams in the national capital on Friday on increased demand from jewellers and retailers driven by the ongoing festive season. The precious metal closed at Rs78,300 per 10 grams on Thursday. Silver surged Rs1,035 to Rs94,200 per kg from Rs93,165 per kg in the previous session, according to the All India Sarafa Association. Meanwhile, gold of 99.5 per cent purity climbed Rs200 to reach an all-time high level of Rs78,100 per 10 grams. Bullion traders attributed the rise in precious metal prices to the emergence of buying by jewellers and retailers driven by the ongoing ‘Navratri’ festival. In the Asian trading hours, Comex gold is trading flat at $2,678.90 per ounce. However, silver was quoted lower at $32.37 per ounce in the overseas markets

In futures trade on the Multi Commodity Exchange (MCX), gold contracts for December delivery rose Rs131 or 0.17 per cent to Rs76,375 per 10 grams, hovering near an all-time high. “Silver witnessed steady moves as participants widened their bets on a firm spot demand seen in physical markets due to the start of the festive season in India,” Maneesh Sharma, AVP - Commodities & Currencies, Anand Rathi Shares and StockBrokers, said.