Gold, silver witness festive surge

Gold and Silver prices rebounded on Thursday due to fresh demand from stockists and retail consumers for the ongoing festive season.

The precious metal rose Rs 200 to revisit the all-time high level of Rs 78,300 per 10 gm, according to the All India Sarafa Association.

It had closed at Rs 78,100 per 10 gm on Tuesday.

Silver also jumped by Rs 665 to Rs 93,165 per kg from Rs 92,500 per kg in the previous close. Additionally, gold of 99.5 per cent purity climbed by Rs 200 to reclaim its all-time high of Rs 77,900 per 10 gm. The metal had finished at Rs 77,700 per 10 gm on Tuesday. Traders said the sentiment turned better on rising demand at the beginning of Navratri, an auspicious week in Hindu mythology for purchasing new things particularly precious metals.