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This is an archive article published on December 25, 2010

Gold breaks 5-days losing streak

Trading sentiment turned better,as retailers increased their stocks for the marriage season.

Gold broke its five-days losing streak on Saturday in the national capital and rose by Rs 10 to Rs 20,700 per 10 grams on mild-buying by retailers,amid firm trends in global markets.

Trading sentiment turned better,as retailers increased their stocks for the marriage season,amid firming global trends as Europe’s debt crisis spurred demand for the precious metal from investors.

Gold of 99.9 and 99.5 per cent purity recovered by Rs 10 each to Rs 20,700 and Rs 20,580 per 10 grams,respectively. It had lost Rs 130 each in the last four trading sessions.

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However,sovereign,remained steady at Rs 16,750 per piece of eight gram on restricted buying support.

Gold in global markets rose by USD 4.90 to USD 1,384.40 an ounce.

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