Comments
Gold rallied to a one-month high at the domestic bullion market here today driven by consistent demand from stockists amid investment buying and speculative offtake.
Silver, however, eased owing to lack of industrial buying support.
Standard gold of 99.5 per cent purity spurted Rs 250 to finish at Rs 27,945 per 10 gm, a level not seen in a month, from Friday’s closing figure of Rs 27,695.
Pure gold of 99.9 per cent purity surged Rs 255 to end at Rs 28,085 per 10 gm from Rs 27,830.
Silver ready (.999 fineness), however softened by Rs 35 to settle at Rs 41,555 per kg from Rs 41,590 yesterday.
Meanwhile, globally, the shiny metal witnessed modest profit-taking after recent rally as investors turned cautious ahead of the Federal Open Market Committee (FOMC) meet next week amid ongoing uncertainty over the US Fed’s bond-buying programme.
Gold for August delivery dropped by $7.30 to end at $1,321.50 an ounce late yesterday on the Comex division of the New York Mercantile Exchange (NYMEX).
Silver for September contract shed 38 cents to close at $19.77 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.