Gold rises by Rs 90

Marketmen said fresh buying by stockists and the current marriage season demand kept the prices of precious metals at high levels.

They said gold prices crashing in the previous session after Dubai debt problem attracted stockists and retail customers.

Gold yesterday declined sharply by Rs 300 following a steep fall in prices overseas on fears of a widespread default after Dubai said it would ask creditors of conglomerate Dubai World for a debt moratorium of at least six months.

In the domestic market today,standard gold and ornaments gained Rs 90 each at Rs 17,940 and Rs 17,790 per 10 gram respectively. Sovereign surged by Rs 370 to Rs 13,970 per piece of eight gram.

Silver ready rose by Rs 600 to Rs 28,600 per kg and weekly-based delivery by Rs 615 to Rs 28,165 per kg. Its coins also gained Rs 100 at Rs 34,300 for buying and Rs 34,400 for selling of 100 pieces.