Gold prices soared further by Rs 215 to Rs 28,800 per 10 grams at the bullion market on Thursday on a firming trend overseas amid increased buying by jewellers to meet the ongoing wedding season demand.
The government on Wednesday hiked the import tariff value on gold to $388 per 10 grams and that on silver to $487 per kg taking cues from global market.
Gold prices on Tuesday regained the Rs 28,000-mark by soaring Rs 710 - its biggest single-day surge this year - to trade at its highest level in over one-year on bullish trend in global markets and buying by jewellers.
The government on Friday hiked the import tariff value on gold to $363 per 10 gram in line with global prices. The import tariff value on silver, however, was reduced to $443 per kg.