Gold prices on Thursday crossed the crucial Rs 17,000 per 10 gram level in the bullion market in New Delhi, buttressed by frantic buying by jewellers for the ongoing marriage season amid a firming global trend.
Gold spurted by Rs 170 to Rs 17,150 per 10 gram and silver by Rs 220 to Rs 27,720 per kg in New Delhi.
The yellow metal, which had been on an upward march ever since the Reserve Bank of India purchased 200 tons of gold from the International Monetary Fund early this month, got a boost from the firming trend in the global markets, marketmen said.
On January 1, gold was trading at Rs 13,650 per 10 gram.
It covered a price range of Rs 3,350 in over 11 months with the last Rs 1,000 being covered in just 15 days, triggered by the RBI's stance to buy gold from the International Monetary Fund.
