Gold prices at $1,428.70 an ounce

An upswing was noted once again in prices of gold. In New Delhi, gold prices rose to Rs 21,050 per ten gram. Prices of gold of 99.9 percent purity rose by Rs.50 to Rs 21,050 per 10 grams and that of 99.5 per cent purity jumped by Rs 50 also, to Rs 20,930 per ten grams. Sovereign gold also rose by Rs 50 to Rs 16,800 per piece of eight grams, which is a record.

Silver peaked by Rs 300 to Rs 45,500 per kg, and weekly-based delivery was up by Rs 165 to Rs 44,980 per kg. Silver coins stood at Rs 49,000 for buying and Rs 49,100 for selling (100 pieces).

Reports suggest that the rise in the metal prices is prompted by festive buying and firming global trend. In the international market, gold prices jumped to $1,428.70 an ounce, while silver prices set a 30-year high record of $30.32 an ounce.