Gold costs on Wednesday acknowledged Rs 50 to hit another high of Rs 38,820 for each 10 gram at the bullion advertise here by virtue of steady purchasing help from jewellers, as indicated by the All India Sarafa Association. Silver also soared by Rs 1,140 to Rs 45,040 per kg on fresh offtake by industrial units and coin makers.
Traders attributed the gain in gold to increase in the domestic spot market demand. However, a weak trend in the international market restricted the gains, they said. Besides, the decline in equity markets also aided the rally in the precious metal as investors moved towards safe-haven assets such as gold, they added.