The Hindu Business Line : Gold hits Rs 13,000-mark

Gold prices continued to glitter for third straight session in the domestic markets. Since Thursday, pure gold has gained Rs 610 for 10 gm to Rs 13,010, while standard gold rose by Rs 605 for 10 gm to Rs 12,945. Silver prices have increased by Rs 645 a kg. “The sharp fall in equity markets across the globe and weakening dollar against other currencies pushed up gold prices. However, the real demand has softened to a large extent,” said Mr Nilesh Shah, a Mumbai- based jeweller. Gold imports in May dropped 52 per cent compared with same month a year ago, according the Mumbai Bullion Association. Imports were 108 tonnes in the first five months against 300 tonnes in the same period last year. –

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