New Delhi, April 08: Extending yesterday’s gains, gold shot up further by Rs 170 to Rs 16,950 per ten grams in the bullion market here today on brisk buying driven by strong overseas cues.
Standard gold and ornaments surged by Rs 170 each to Rs 16,950 and Rs 16,800 per ten grams, respectively. They had gained Rs 130 each in the previous session.
Sovereign followed suit and gained Rs 50 to trade at Rs 14,000 per eight-gram piece.
The trading sentiment remained bullish as gold rose for the fifth straight session in the overseas market after investors purchased the metal as an alternative to holding currency.
Gold in the international markets, which normally set the price trend here on the domestic front, rose by USD 13.70 to USD 1,148 an ounce last evening.
–PTI