Comments
Gold prices rallied further at the bullion market on Wednesday on heavy demand from stockists and investors supported by higher global cues.
Silver also recovered smartly on good speculative offtake amidst renewed industrial buying.
Standard gold of 99.5 per cent purity surged Rs 155 to close at Rs 29,605 per 10 gm from Tuesday’s closing level of Rs 29,450.
Pure gold of 99.9 per cent purity also climbed by a similar margin to finish at Rs 29,740 per 10 gm from Rs 29,585.
Silver ready (.999 fineness) shot up Rs 650 to end at Rs 55,865 per kg from Rs 55,215 previously.
‘Good off—take from traders anticipating tomorrow’s budget policies also supported today’s gold demand’, dealer said.
In overseas, gold strengthened on Federal Reserve Chairman’s backing for the continuation of Central Bank’s quantitative—easing measures.
Gold for April delivery spurted by $28.90 to settle at $1,615.50 an ounce on the Comex division of the NYMEX late yesterday and Silver for May contract rose 27 cents to $29.32 an ounce.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.