Comments
With gold gaining Rs 115 and silver Rs 600, the bullion market today saw both the precious metals sparkling driven by marriage season demand amid firm global cues.
The yellow metal shot up by Rs 115 to touch the Rs 22,745 per 10 grams mark and silver soared by Rs 600 to Rs 54,150 per kg.
Trading sentiment turned bullish as gold rose overseas after the dollar weakened against the euro, boosting the appeal of the precious metals as an alternative asset, dealers said.
Moreover, pick-up in local buying in view of marriage season demand further fuelled the uptrend, they added.
Gold in global markets, which normally sets the price trend at the domestic front, rose $8.80 to $1,538.70 an ounce.
At the domestic front, silver ready surged by Rs 600 to Rs 54,150 per kg and weekly-based delivery by Rs 660 to Rs 53,810 per kg. Silver coins spurted by Rs 1,000 to Rs 62,000 for buying and Rs 63,000 for sale of 100 pieces.
Similarly, gold of 99.9 and 99.5 per cent purity shot up by Rs 115 each to Rs 22,745 and Rs 22,625 per 10 grams, respectively. However, sovereign continued to be asked around the previous level of Rs 18,700 per piece of eight grams.
Comments
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.