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This is an archive article published on November 19, 2010

Gold moves up on retail buying,silver zooms

Gold prices moved up marginally at the bullion market in Mumbai.

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Gold prices moved up marginally at the bullion market here today on stray jewellery demand as well as local buying activity supported by bullish global cues.

The industrial metal continued its surge owing to strong speculative buying driven by a steep rise in international markets where the metal rallied more than five per cent on continued investment and industrial demand.

Standard gold (99.5 per cent purity) firmed up by Rs 20 to end at Rs 20,050 per 10 grams from Thursday’s closing level of Rs 20,030.

Pure gold (99.9 per cent purity) edged up by Rs 15 to finish at Rs 20,145 per 10 grams from Rs 20,130 previously.

Silver ready (.999 fineness) soared by Rs 885 per kg to conclude at Rs 41,985 from yesterday’s closing level of Rs 41,100.

In New York,Gold for December delivery rose by USD 16.10 to settle at USD 1,353 an ounce at the Comex division of NYMEX.

December Silver gained USD 1.32 to end at USD 26.83 an ounce.

 

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