Gold prices surged ahead to its highest level in four months at the bullion market here powered by robust uptick from stockists and investors as well as good seasonal demand.

Silver staged a strong comeback following frantic speculative buyout coupled with industrial offtake and finished above the key important Rs 39,000-mark.

Defying strong rupee sentiment and equities, the yellow metal continued its uptrend in the domestic market predominantly induced by a breathtaking rally in worldwide trade after the Swiss Central bank surprised the market by slashing interest rates further into negative territory and abandon its efforts to keep its currency artificially cheap, a bullion trader said.

Standard gold (99.5 purity) jumped by Rs 250 to conclude at Rs 27,715 against Friday’s closing level of Rs 27,465.

Pure gold (99.9 purity) also rose by a similar margin to end at Rs 27,865 per 10 grams from Rs 27,615 previously.

Silver (.999 fineness) skyrocketed by Rs 1,350 to finish at Rs 39,570 compared with Rs 38,220 yesterday.

At the global front, gold for February delivery shot up to end at $1,276.90 an ounce on the Comex division of the NYMEX late yesterday, while silver March contract spiked to settle at $17.75 an ounce.

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