The yellow metal also advanced further on strong domestic demand in view of firming trend in overseas markets.

In London, gold hit a two-week high above USD 945.00 an ounce, continuing its gains at the dollar retreated broadly. Rising oil prices also boosted its appeal as a potential inflation hedge, as supply concerns pushed crude oil above USD 71 a barrel.

Spot gold touched a high USD 945.80 an ounce early in London, up from USD 938.55 an ounce quoted late on Thursday in New York.

Spot silver also firmed up to USD 14.25 an ounce. In the domestic market, silver ready (.999 fineness) shot up by Rs 220 per kilo to Rs 22,980 from yesterday’s closing level of Rs 22,760.

Standard gold (99.5 purity) moved up further by Rs 40 per ten grams to Rs 14,720 from Rs 14,680 previously.

Pure gold (99.9 purity) also advanced further by a similar margin of Rs 40 per ten grams to Rs 14,790 as against Rs 14,750.
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