Gold & Silver

Gold extends rising trend to reclaim ₹28,000-mark, silver falls

PTI Mumbai | Updated on March 09, 2018 Published on August 02, 2014

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Gold prices maintained their rising momentum and reclaimed the ₹28,000 per 10/gm mark at the bullion market here today on consistent demand from jewellery traders and stockists.

Silver, on the other hand, slumped further due to heavy speculative unwinding and poor industrial buying support.

Standard gold (99.5 purity) hardened by ₹115 to end at ₹28,010 per 10 gm against Friday’s level of ₹27,895.

Pure gold (99.9 purity) also rose by ₹110 to conclude at ₹28,155 per 10 gm from ₹28,045.

Silver (999 fineness), however, dropped sharply by ₹235 to finish at ₹44,900 as compared to ₹45,135 yesterday.

On the global front, the shiny metal rebounded smartly from its six-week-low on the back of weak dollar as well as lower-than-expected jobs data, which eased fears of an early interest rate hike by the Federal Reserve.

Gold for August delivery climbed more than one per cent to settle at $1,293.60 an ounce on the Comex division of the NYMEX late yesterday, while silver September delivery eased to $20.37 an ounce.

Published on August 02, 2014
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