Silver however remained steady at Rs 40,500 per kg in scattered deals from industrial units and coin makers.
Jaitley said that the government needs revenue to support public spending without which growth will suffer.
A strong global trend and intensifying local demand turned out to be a potent mix for gold prices.
Wholesale inflation broke the 3-month declining trend and rose to 3.39 per cent in December 2016 from 3.15 per cent in November. WPI rose mainly