Gold price gains on global uncertainty,silver rate slips

Gold prices advanced further at the bullion market here today on increased demand from investors and jewellery makers on rising trend at international levels.

On the other hand,silver rate dropped on profit-taking by speculators and stockists amid subdued industrial demand.

In overseas markets,gold continued to surge on concerns over worsening euro-zone debt crisis amid renewed fears on Greece’s inability to withstand default,resulting in a global economic uncertainty.

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In London,spot gold surged by USD 16.79 to USD 1,673.19 an ounce in early trade. Silver was bid at USD 30.83 an ounce.

At home,Standard gold (99.5 purity) hardened by Rs 140 per 10 grams to finish at Rs 26,675 from Monday’s closing level of Rs 26,535.

Pure gold (99.9 purity) also firmed up by Rs 125 per 10 grams to close at Rs 26,795 from Rs 26,670 previously.

However,silver ready (.999 fineness) declined by Rs 535 per kg to conclude at Rs 52,215,from Rs 52,750 yesterday.

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