Gold prices today jumped to 54,540 from Rs 55,440 per 10 gram a day before, while silver jumped to Rs 66,350 from Rs 65,300 per kg, according to Good Returns website.
Gold jewellery prices vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.
In New Delhi, the price of 22-carat gold jumped to Rs 50,000 per 10 gram, and in Chennai to Rs 49,120. In Mumbai, the rate was Rs 50,450, according to the Good Returns website. The price of 24-carat gold in Chennai was Rs 53,580 per 10 gm.
On MCX, October gold futures jumped by 1.07 per cent to Rs 51,448 per 10 gram. Silver September futures stood at Rs 65,976 per kg.
Gold prices slipped by Rs 252 to Rs 52,155 per 10 grams in the national capital on Friday amid a stronger rupee, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 52,407 per 10 grams. Silver prices, however, rose by Rs 462 to Rs 68,492 per kg as compared to the previous close of Rs 68,030 per kg.
Meanwhile, in a major catch, the Directorate of Revenue Intelligence (DRI) has seized gold worth nearly Rs 43 crore, smuggled into India from Myanmar, from eight men arrested at New Delhi railway station, officials said on Saturday.
As many as 504 gold bars, weighing 83.6 kg, have been recovered from the accused who hail from Sangli district in Maharashtra, they said.
In a statement issued on Saturday, the DRI said eight people were intercepted after their arrival at New Delhi railway station by Dibrugarh-New Delhi Rajdhani Express on Friday.
The DRI officials seized 504 gold bars which were found to be concealed in specially tailored cloth vests worn by these eight passengers, it said. The carriers of the smuggled gold were found to be travelling on fake identity (Aadhar card), the statement said.