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This is an archive article published on April 13, 2012

Gold,silver prices surge on global cues

Gold prices surged at the domestic bullion market here today on good buying by stockists and investors amid growing demand from jewellers on the back of firm global sentiments.

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Gold prices surged at the domestic bullion market here today on good buying by stockists and investors amid growing demand from jewellers on the back of firm global sentiments.

Silver advanced on sustained speculative demand owing to the higher industrial support.

The bullion market was closed yesterday on account of a jeweller’s death.

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Standard gold of 99.5 per cent purity strengthened by Rs 220 to finish at Rs 28,615 per 10 grams from Wednesday’s close of Rs 28,395.

Pure gold of 99.9 per cent purity also climbed by Rs 215 per 10 grams at Rs 28,745 from Rs 28,530.

Silver ready (.999 fineness) shot up by Rs 740 per kg to close at Rs 57,050 as compared to previous Rs 56,310.

In New York,gold rose on weak dollar and rising equities amid reports of economic stimulus.

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Spot gold for June delivery rallied by USD 20.30 to USD 1,680.60 an ounce on the Comex division of NYMEX late yesterday. Silver for May delivery rose by USD 1 to USD 32.52 an ounce.

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