Gold regains 20k level on seasonal demand

Gold is just Rs 35 short of the Rs 20,120 per ten grams record last seen on October 15.
Besides, silver spurted by Rs 575 to its record high of Rs 37,000 per kg on hectic buying by industrial units and coin makers for the auspicious festival of 'Diwali.'

Precious metal prices also shot up on buying by investors, who preferred to park their funds in bullion instead of volatile equity markets.

The gold of 99.9 and 99.5 per cent purity rose by Rs 135 each to Rs 20,085 and Rs 19,985 per ten grams respectively. Sovereign also rose by Rs 300 to Rs 16,000 per piece of eight gram, a level never seen before.

Silver ready spurted by 575 to Rs 37,000 per kg and weekly-based delivery by Rs 685 to Rs 36,390 per kg. Silver coins rose by Rs 100 each to Rs 36,100 for buying and Rs 36,200 for selling of 100 pieces.

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