Gold,silver prices jump on speculationhttps://indianexpress.com/article/news-archive/web/gold-silver-prices-jump-on-speculation/

Gold,silver prices jump on speculation

Gold prices jumped at the domestic bullion market here today on sustained speculative demand from stockists and investors on the back of bullish global trend. Silver also zoomed on heavy stockist buying amidst industrial off-take.

Gold prices jumped at the domestic bullion market here today on sustained speculative demand from stockists and investors on the back of bullish global trend.

Silver also zoomed on heavy stockist buying amidst industrial off-take.

Standard gold (99.5 purity) rallied by Rs 670 to close at Rs 28,840 per 10 gm from Thursday’s closing level of Rs 28,170.

Pure gold (99.9 purity) also galloped by Rs 680 to finish at Rs 28,980 per 10 gm from Rs 28,300.

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Silver ready (.999 fineness) shot-up by Rs 1,385 per kg to end at Rs 54,085 as against Rs 52,700 previously.

In Europe,gold rose on strong euro amidst hectic short-covering as well as the precious metals once again returning to ‘safe haven’ tag.

Spot gold was bid higher at USD 1,587.46 an ounce in early trade,silver also bid up at USD 28.36 an ounce.