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Gold price scales new historic peak

Gold prices spurted and scaled fresh all-time highs at the bullion market here today.

Written by Agencies | Mumbai | Published: June 14, 2012 7:14:52 pm

Gold prices spurted and scaled fresh all-time highs at the bullion market here today following heavy off-take by stockists and investors triggered by bullish trend in international market.

Silver tracked the yellow metal and gained on good speculative demand.

Standard gold (99.5 purity) climbed up by Rs 140 to end at Rs 30,000 per 10 gm from Wednesday’s closing level of Rs 29,860.

Pure gold (99.9 purity) advanced by Rs 135 to finish at Rs 30,145 per 10 gm as compared to Rs 30,010 yesterday.

Silver ready (.999 fineness) went-up by Rs 120 per kg to conclude at Rs 55,510 from Rs 55,390 previously.

In New York,gold surged after dismal US retail sales data,driving investors to the precious metal as safe-haven appeal amidst expectations of further quantitative easing by the Federal Reserve.

Gold for August delivery rose USD 5.60 to USD 1,619.40 an ounce on the Comex division of the NYMEX late yesterday.

Silver for July delivery ended lower by one cent at USD 28.94 an ounce.

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