Gold surges to Rs 17,500 per 10 gm

New Delhi, November 20: Continuing its record setting spree, gold today surged by Rs 100 and touched a new high of Rs 17,500 per 10 gram in the bullion market here on heavy buying by jewellery makers amid firming global trend.

Silver coins also rose to an all-time high of Rs 34,200 for buying and Rs 34,300 for selling of 100 pieces, recording a significant rise of Rs 200.

Analysts said that gold prices might touch Rs 18,000-level here once physical buying starts in the overseas market ahead of the Christmas season.

Gold, which moves in tandem with the international trend, got support from firming global cues rather than physical buying for the current marriage season, said Mahesh Verma of OM Sons jewellers.

The yellow metal in the overseas markets rose to 1,154 dollar an ounce.

--Agencies

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