Gold prices rallied to an all-time high of Rs 13,745 in early trade on the bullion market in Mumbai on Wednesday on hectic stockists buying prompted by higher global advices as well as festival demand.
Gold prices in Singapore rebounded as safe-haven buying picked up after share values tumbled to multi-year lows across the globe.
Heavy demand from the world's largest bullion-backed exchange-traded fund (ETF) also boosted the sentiment.
Gold was trading at USD 887.90 an ounce, up $1.30 from New York's notional close on Tuesday.
In the domestic market, standard gold (99.5 purity) firmed up by Rs 275 per ten grams to resume at Rs 13,745 from the Tuesday’s closing level of Rs 13,470 and pure gold (99.9 purity) also hardened to Rs 13,810 from Rs 13,535.
Silver ready (.999 fineness) also jumped to Rs 19,940 from Rs 19,685 on Tuesday.
