Mumbai, Oct 14: Gold prices breached above Rs 16,000 mark for the first time in the bullion market on Wednesday, Oct 14.
Stockists and retailers continued to buy the precious metals during the ongoing festivals leading to a boost in their demand.
In the local market, standard gold (99.5 purity) rose by Rs 105 per 10 grams to resume at Rs 16,035 from Monday's Oct 12 closing level of Rs 15,930.
Pure gold (99.9 purity) also spurted by a similar margin to Rs 16,110 from Rs 16,005.
Silver ready (.999 fineness) hardened by Rs 95 per kg to Rs 28,150 from Rs 28,055 previously.