Gold prices surged to a new peak and crossed the Rs 23,000 mark in the national capital today on sustained buying by speculators, triggered by a strong rally in overseas markets. Silver, however, dropped due to reduced offtake.

The yellow gold spurted by Rs 655 to all-time high of Rs 23,175 per 10 grams as the metal in international markets climbed to a record high of USD 1,570.60 an ounce in day-to-day trading.

Hectic buying by stockists and retail customers ahead of 'Akshya Tritya' festival, a traditional day for buying gold further bolstered the market sentiment.

Silver, however, lacked necessary follow-up support on reduced offtake at existing higher levels and shed Rs 500 to Rs 71,500 per kg. (PTI)