Financial Daily from THE HINDU group of publications
Friday, Feb 08, 2002

Port Info

Group Sites

Home Page - Precious Metals
Agri-Biz & Commodities - Precious Metals

Gold zooms to 5-year high

Our Bureau

MUMBAI, Feb. 7

GOLD prices touched a five-year high in some parts of the country, including Delhi and Chennai, after the yellow metal notched a two-year high for the second consecutive day in the global market.

Standard gold was quoted at Rs 5,050 per 10 gm in Chennai, while in Delhi it slid back to Rs 4,960 after touching the five-year high mark of Rs 5,050. In Mumbai, it was steady at Rs 4,900. In Kolkata, it closed at Rs 4,910.

In London, spot gold ruled at $298.25-299.25 a troy ounce. It is seen consolidating in the $298-302 range this week.

According to Chennai Bullion Association sources, the rates quoted for standard gold were as per bank rates. However, traders who had old stocks were selling at Rs 4,900.

The yellow metal has also been buoyed by frantic purchases in Japan, where mistrust in banks has fuelled the rush.

Send this article to Friends by E-Mail

Stories in this Section
Bharti aims to be one-stop shop

Gold zooms to 5-year high
A swap deal worth trying?
UB set to soak South with latest buyout -- Snares GMR Vasavi, Empee
Better pay on cards for SEBI boss
SPIC may exit Jordan venture

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |

Copyright 2002, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line