New Delhi: Gold climbed to a new record of Rs 31,115 per 10 grams on Friday, spurred by gains in the overseas market where it rose to over four-month high on speculation that the US will take steps to spur economic growth.
Gold rose by Rs 80, surpassing its yesterday's record of Rs 31,035 per 10 grams.
On the other hand, silver met resistance at existing higher levels and declined by Rs 150 to Rs 56,850 per kg.
Traders said gold's rally in global markets influenced sentiment here.
In New York, gold spurted by 2 percent to USD 1,677.50 an ounce, its highest level since April 13 in New York.
Besides, sustained buying by stockists and investors also helped gold to register gains for the fifth day in a row, they added.
Back home, gold of 99.9 and 99.5 percent purity rose by Rs 80 to set a new peak level of Rs 31,115 and Rs 30,915 per 10 grams, respectively. The metal has gained Rs 595 in last four sessions.
Sovereign gained Rs 50 to Rs 24,700 per piece of eight grams.
Silver ready declined by Rs 150 to Rs 56,850 per kg and weekly-based delivery by Rs 90 to Rs 56,480 on reduced offtake by industrial units.
Silver coins fell by Rs 1,000 to Rs 71,000 for buying and Rs 72,000 for selling of 100 pieces.
First Published: Friday, August 24, 2012, 16:02