Gold & Silver

Silver surges on speculative buying

| | Updated on: Apr 19, 2012

Silver prices hardened further at the domestic bullion market on heavy speculative buying by investors on the back of rising industrial demand.

Gold moved up on stray demand from stockist as well as jewellers.

Silver ready (.999 fineness) climbed by Rs 200 per kg to end at Rs 56,725 from Wednesday’s closing level of Rs 56,525.

Standard gold (99.5 purity) gained by Rs 10 per 10 grams to Rs 28,470 from Rs 28,460.

Pure gold (99.9 purity) also edged up by a similar margin to finish at Rs 28,625 per 10 grams from Rs 28,615.

In New York, gold finished lower on lack of physical demand tracking losses in broader market.

Gold of June delivery declined by $11.50 to $1,639.60 an ounce on the Comex division of NYMEX late yesterday.

Published on April 19, 2012

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