PTI

New Delhi, Jan 27: Continuing its two-session winning streak, gold prices shot up by another Rs 40 to hit a record high of Rs 14,140 per 10 gram in the national capital on Tuesday on increased buying by stockists, driven by firming global trend after the US dollar weakened.

Silver also continued its upward journey and gathered another Rs 200 to Rs 19,200 per kg.

Marketmen said persistent buying by stockists in line with rising trend in the overseas markets mainly led to a rise in gold prices on the domestic markets here.

They said the dollar's slump against the pound and the euro, also supported the rise in the prices as a weaker dollar inflates the value of dollar-denominated commodities including gold.

"Apart from firming global trends, fresh demand from jewellery fabricators ahead of marriage season also supported the rise in gold prices," said Rakesh Anand, a bullion merchant in the national capital.

Standard gold and ornaments rose by Rs 40 each to close at a new high of Rs 14,140 and Rs 13,990 per 10 gram respectively, while sovereign held steady at Rs 11,000 per piece of 8 gram.

Meanwhile, gold in Asian trading rose by 0.3 per cent to 905.98 dollar an ounce.

Silver was up by Rs 200 to Rs 19,200 per kg, while weekly-based delivery by Rs 220 to Rs 19,470 per kg.

Silver coins, however, ruled flat at Rs 27,500 for buying and Rs 27,600 for selling of 100 pieces.