Gold rose to Rs 11,820 per 10 gram mainly on heavy buying by stockists and jewellery fabricators prior to Akshayatrithiya here at the bullion market on Wednesday.
Precious metal prices surged further by Rs 150 again on firming trend in overseas markets.
Standard gold and ornaments rose by Rs 150 each to Rs 11,820 and Rs 11,670 per 10 gram respectively. Sovereign held unchanged at Rs 9875 per piece of eight gram.
Silver also rose further on brisk buying by funds. Silver ready rose further by Rs 320 to Rs 22,620 per kg and weekly-based delivery by Rs 500 to Rs 22,450 per kg.
Silver coins, on the other hand, continued to be asked at previous levels of Rs 26,600 for buying and Rs 26,700 for selling of 100 pieces.
The buying activity picked up on reports that the gold rose in Asia for a fourth day as crude oil traded near 122 dollar a barrel, boosting the appeal of the precious metal as a hedge against inflation.
Gold has gained 5.2 per cent this year in overseas markets, while oil soared 27 per cent. Bullion for immediate delivery gained 5.03 dollar to 881.43 dollar an ounce. The domestic bullion market normally take guidance from global markets.
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