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Wednesday, July 18, 2018

Gold price scales new peak; silver also shines

Continuing its record-breaking journey,gold scaled new peaks at the bullion market here today on consistent buying from stockists and investors supported by firm jewellery demand.

Written by Agencies | Mumbai | Published: May 3, 2012 8:43:43 pm

Continuing its record-breaking journey,gold scaled new peaks at the bullion market here today on consistent buying from stockists and investors supported by firm jewellery demand.

Silver rebounded smartly,owing to frantic retail speculative off-take.

Standard gold (99.5 purity) hardened by Rs 75 to finish at Rs 29,310 per 10 gm from Wednesday’s closing level of Rs 29,235.

Pure gold (99.9 purity) also strengthened by a similar margin to conclude at Rs 29,445 per 10 gm as compared to Rs 29,370 previously.

Silver ready (.999 fineness) rose by Rs 325 per kg to close at Rs 56,535 from Rs 56,210 yesterday.

In Europe,gold traded cautiously ahead of the crucial ECB meet in the backdrop of disappointing manufacturing data from eurozone,reigniting worries about economic recovery.

Spot gold was bid down USD 1,644.90 an ounce in early trade and silver was lower at USD 30.40 an ounce.

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