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2008-07-22 18:10:56 |
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Gold surges to Rs 13,550 on brisk buying
Commodity Online
MUMBAI : Gold prices in India surged further Tuesday, hours before a trust vote by UPA governemnt, triggered by global trends that prompted brisk buying by stockists and jewelers.
The precious yellow metal advanced by Rs 110 to close at Rs 13,550 per 10 gram on the bullion market, an increase by Rs 50 from Monday.Silver too shot up by Rs 300 to Rs 25,800 per kg on increased demand.
Standard gold and ornaments remained in demand and rose Rs 110 to Rs 13,550 and Rs 13,400 per ten gram respectively while sovereign gained Rs 25 at Rs 10,625 per piece of eight gram.
Silver ready in line with gold soared Rs 300 to Rs 25,800 per kg while its weekly-based delivery strengthened by Rs 115 to Rs 25,840 per kg respectively.
However, silver coins lacked necessary follow-up and lost Rs 100 at Rs 28,000 for buying and Rs 28,100 for selling of 100 coins
Activity in gold picked up as the precious metal rose in Asia for a second day as dollar traded near a record low against euro, boosting the appeal of the metal as an alternative investment. |
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| FOREX Reports |
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Aussie ends lower again |
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The Aussie closed trading weaker Wednesday as another lackluster day on Wall Street weighed on risk sentiment.
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Yen keeps rising |
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Japanese yen continued gains Wednesday as investors turned risk-averse after shares in Asia fell on fears that the credit crunch would lead to a sharp slowdown in the global economy.
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Pound sterling recovers against dollar |
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Pound sterling continued its recovery Tuesday as traders welcomed the UK government's plan to inject 37 billion pounds into the country's ailing banks.
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