MUMBAI: Gold prices continued to scale higher for the fourth straight day at the bullion market in Mumbai on Wednesday on sustained local buying as well as from jewellers, sparked by a steep rise in international markets. Silver also spurted due to heavy demand from industrial users amid stockists support. Standard gold (99.5 purity) moved up by Rs 40 per ten grams to close at Rs 16,750 from yesterday's closing level of Rs 16,710. Pure gold (99.9 purity) looked up by a similar margin of Rs 40 per ten grams to end at Rs 16,835 as against Rs 16,795 previously. Silver ready (.999 fineness) jumped by Rs 455 per kilo to finish at Rs 25,855 from Rs 25,400 of yesterday. In London, gold prices rose above $1,120 an ounce to a two-week high as the euro extended its overnights gains against the dollar. Spot gold was bid at $1,119.15 an ounce in early trade as against $1,118.95 late in New York on Tuesday. US gold futures for April delivery improved by USD 2.60 to USD 1,121.90 an ounce on the Comex division of the NYMEX. Silver was bid at $16.18 an ounce as against $16.12.

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