The overseas markets, which normally decide the trend in domestic markets, failed to influence the sentiment today as most of the funds were coming in from the melting stock markets amid hectic buying by stockits for the ongoing festival season.
The yellow metal fell in overseas markets on speculation that a 12 per cent surge in prices in three months is deterring jewellery buyers.
Marketmen said the initial reports from overseas markets of firm opening around 475 dollar an ounce basically impact the trend and further supported by the festive buying.
They said falling equity markets spared lot of funds to be invested in precious metals. Standard gold and ornaments spurted by Rs 60 each at Rs 6,830 and Rs 6,680 per ten gram respectively.
Sovereign also rose by Rs 50 at Rs 5,500 per piece of eight gram. Silver ready shot up by Rs 125 at Rs 11,225 per kilo and weekly-based delivery by Rs 135 at Rs 11,205 per kilo.
Silver coins were further higher by Rs 100 at Rs 16,500 for buying and Rs 16,600 for selling of 100 pieces.