NEW DELHI: Snapping a four-day fall, gold prices spurted by Rs 115 to Rs 16,060 per ten grams in the national capital today on buying at attractive low levels amid firm global cues. Buying by stockists and jewellery fabricators increased on fears that the metal might become more costly due to the approaching festival of Diwali. A steep rise in gold prices in the overseas markets fuelled the uptrend further. The metal rose after four days in London as a sliding dollar augmented demand for the precious metal as an alternative investment. The US currency fell on speculation that the G20 leaders meeting in Pittsburgh on Thursday will call for a reduction in global trade imbalances. "The precious metals are more co-related with the international trend and gaining fancy of general investors," Sheel Chand Jain of All India Sarafa (Bullion) Merchant Association said. He said the prices were likely to pick up further ground on approaching festival of Diwali when gold consumption peaks. Silver for immediate delivery in London gained 1.9 per cent to USD 17.15 an ounce. Platinum added 0.8 per cent to USD 1,330 an ounce, while palladium was 0.4 per cent higher at USD 298.75 an ounce. ETF Securities palladium holdings increased 0.9 per cent to a record 504,966 ounces, while platinum assets climbed 2.5 per cent to 354,967 ounces.

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