Commodity Online
NEW DELHI: Satyam impact started showing in gold prices also. When the Satyam Computers hit Sensex in India, investors started shifting their money to gold resulting in a prices rise.

Gold prices recovered on Wednesday by Rs155 to Rs13,465 per 10 gram in the bullion market following the Sensex fall.

The precious metal, which had lost Rs340 per 10 gram in the previous days, bounced back on revival of buying in line with a firm trend in US markets. The gold in American markets rose from $844 to $865 an ounce.

Marketmen said most of the investors, including stockists, shifted their funds from stocks markets, which on Wednesday recorded biggest single day losses this year.

Bombay Stock Exchange benchmark Sensex lost 749 points on panic selling.

Standard gold and ornaments rose by Rs155 each to Rs13,465 and Rs13,315 per 10 gram, respectively, while sovereign gained Rs25 to Rs10,750 per piece of eight gram.

Similarly, silver ready attracted brisk buying support from stockists and industrial units and recorded a gain of Rs210 at Rs18,400 per kg and weekly-based delivery by Rs260 to Rs18,410 per kg.

Silver coins also traded higher by Rs100 to Rs27,000 for buying and Rs27,100 for selling of 100 pieces in line with general firming trend.

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