Silver prices also jumped in line with gold along with sustained industrial demand.
Investors preferred to park their fund in gold rather than equities, influencing the metal prices, a dealer said.
In New York, gold futures extended its gain, climbing above $940 an ounce to their highest level in nearly seven months, as investors continued to buy the metal amid doubts on new economic rescue plans unveiled in the US by president Barack Obama.
Gold for February ended up by $30.10 at $943.80 an ounce on the Comex division of the New York Mercantile Exchange. March silver also rose to $13.52 an ounce.
Holdings of the largest exchange-traded fund, SPDR Gold Trust, backed by gold hit a new record high of 894.72 tonnes on Tuesday, according to the latest data from the fund.
In the domestic market, standard gold (99.5 purity) rose by Rs 315 per 10gm to Rs 14,705 from Rs 14,390 on Wednesday.
Pure gold (99.9 purity) also shot up to Rs 14,770 from Rs 14,450 previously.
Silver ready (.999 fineness) flared up by Rs 445 per kilo to Rs 21,370 from Rs 20,925 previously. AGENCIES
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