Gold regains Rs 17,000-level

Gold prices skyrocketed by Rs 175 to trade at Rs 17,100-- a over one-month high.

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Gold prices skyrocketed by Rs 175 to trade at Rs 17,100– a over one-month high– in the bullion market on brisk buying triggered by strong global cues.

Standard gold and ornaments spurted by Rs 175 each to Rs 17,100 and Rs 16,950 per ten grams,respectively,a level last seen on March 8. Sovereign gained Rs 25 to trade at Rs 14,025 per eight-gram piece.

The trading sentiment turned bullish as gold rose to its four-month high in the Asian region,touching a 27-year high in Tokyo.

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In Singapore,the metal gained 0.7 per cent to USD 1,170,the highest level since December 4,2009.

Some investors shifting their money from weakening equity markets to bullion also caused the prices to improve,they added.

In line with the general firming trend,silver ready rose by Rs 150 to Rs 28,150 per kg and weekly-based delivery by Rs 245 to 27,995 per kg.

However,silver coins held steady at Rs 33,600 for buying and Rs 33,700 for selling of 100 pieces.

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