Gold prices rose at the domestic bullion market in Mumbai on 7 October against the backdrop of bullish overseas sentiment, according to a PTI report.

Elsewhere, silver continued its rallying momentum for the fourth straight session on the back of heavy speculative demand coupled with strong industrial buying support.

Standard gold (99.5 purity) climbed by Rs 75 to end at Rs 26,345 per 10 grams from overnight closing level of Rs 26,270.

Pure gold (99.9 purity) also edged up by a similar margin to settle at Rs 26,495 per 10 grams from Rs 26,420 earlier.

Silver (.999 fineness) jumped by Rs 250 to conclude at Rs 37,450 per kg as against Rs 37,200 on Tuesday.

In worldwide trade, the yellow metal surged to its highest price in nearly two weeks on fading rate hike fears after last week's disappointing jobs report.

Widening US trade deficit data -- most in five months -- as well as lowering global growth forecasts by the IMF for a fourth successive year further bolstered the metal's safe haven appeal.

Spot was sharply higher at USD 1,152 an ounce in early European trade and silver was quoted above the important USD 16 mark, its strongest since June.