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This is an archive article published on February 8, 2012

Gold,silver soar on global cues

Gold price of 99.9% purity climbed by Rs 480 to end at Rs 28,255 per 10 gms as against Rs 27,775 previously.

Gold and silver prices climbed at the bullion market here today on heavy stockist and speculative demand triggered by a sharp rebound in global markets.

Standard gold of 99.5 per cent purity spurted by Rs 470 to close at Rs 28,120 per 10 grams from Tuesday’s closing level of Rs 27,650.

Pure gold of 99.9 per cent purity climbed by Rs 480 to end at Rs 28,255 per 10 grams as against Rs 27,775 previously.

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Silver ready (.999 fineness) shot up by Rs 1,045 per kg to conclude at Rs 56,575 per kg from yesterday’s close of Rs 55,530.

In New York,gold bounced back on lower dollar on optimism over Greece debt deal.

Gold for April delivery jumped by USD 23.50 to USD 1,748.40 an ounce on the Comex division of the NYMEX late yesterday.

March silver gained 44 cents to USD 34.19 an ounce.

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