Gold rises to Rs 22,820 on retail buying

PTI Mumbai | Updated on June 23, 2011

Gold prices edged up marginally by Rs 10 to Rs 22,820 per 10 gram today driven by scattered retail buying support for the marriage season amid a firm overseas trend. The yellow metal gained 80 cents to $1,548 an ounce in New York.

However, silver declined by Rs 100 to Rs 54,700 per kg due to lack of buying by industrial units and stockists at existing high levels. A weak trend in the overseas markets further fuelled the downtrend.

Silver coins followed suit and dropped by Rs 2,000 at Rs 61,000 for buying and Rs 62,000 for selling of 100 pieces.

At the domestic front, gold of 99.9 and 99.5 per cent purity rose Rs 10 each at Rs 22,820 and Rs 22,700 per 10 grams, respectively. Sovereigns eased by Rs 50 to Rs 18,700 per piece of eight grams on lack of support.

Silver ready and weekly-based delivery shed Rs 100 each to Rs 54,700 per kg and Rs 54,200 per kg, respectively.

Published on June 23, 2011

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