Gold Gains Rs 620; Silver Adds Rs 1,450

New Delhi: Gold prices rallied to reclaim the Rs 80,000-level in the national capital on Wednesday driven by increased buying from jewellers and stockists, amid a strong global trend, as per the All India Sarafa Association. The precious metal of 99.9 per cent purity jumped Rs 620 to touch nearly a three-week high of Rs 80,400 per 10 grams. It settled at Rs 79,780 per 10 grams on Tuesday.

Extending the rally for the third straight day, silver surged Rs 1,450 to hit a one-month high of Rs 96,300 per kg. The white metal closed at Rs 94,850 per kg on Tuesday. Price of gold of 99.5 per cent purity climbed Rs 620 to Rs 80,000 per 10 grams on Wednesday. The yellow metal finished at Rs 79,380 per 10 grams in the previous trading session. Traders attributed the rise to increased demand from jewellers and retailers in local markets.

Comex gold futures rose $10.20 per ounce, or 0.38 per cent, to $2,728.60 per ounce in the international markets. However, silver quoted 0.33 per cent lower in the Asian market hours.