Gold Prices Rise Further To One-Month High
New Delhi: Gold prices gained further to touch its monthly peak of Rs 9,020 per ten gram, higher by Rs 10, on the bullion market yesterday on firm buying by local parties amidst tautening worldwide trends.
Buying action picked among retail customers fearing the increase might go on.
Market analysts said increased purchases by retail customers for the upcoming festive season against firm worldwide movement mainly led to upsurge in gold rates.
Worldwide drift that normally provide directions in domestic market showed a rise in gold by $2.90 to $668.20 per ounce and silver by 12 cents to 11.905.
Standard gold and ornaments rested in high demand and made another Rs 10 each at Rs 9, 020 and Rs 8,870 per grams correspondingly. Sovereign, however, was enquired near previous level of Rs 7,625 per piece of eight gram.
Silver weekly-based delivery also attracted fresh purchasing from speculators and industrial users and shot by Rs 320 at Rs 16,720 per kg whilst silver ready remained flat at Rs 16,600 per kg.
Silver coins remained unaltered at Rs 23, 400 for buying and Rs 23,500 for selling of 100 coins.