Gold expensive by Rs 475

New Delhi: Gold prices on Friday surged Rs 475 to Rs 38,420 per 10 gram at the bullion market here, on fresh buying from jewellers, according to the All India Sarafa Association.

Tracking gold, silver also gained Rs 378 to Rs 44,688 per kg on increased offtake by industrial units and coin makers.

Pick-up in demand from local jewellers at the domestic spot market led to the rise in gold prices, analysts said.

They, however, added that the weak global trend restricted the gains. Globally, gold was trading lower at $1,513 an ounce in New York and silver was down at $17.26 an ounce.