|
|
|
|
|
24nd Safarul Muzaffer 1436 | Friday, Dec 19, 2014
Business

Gold, silver extend gains on retail buying support

Saturday, 8 December 2012
Comments(0)
Mumbai, December 08:

Gold prices advanced further to reclaim the Rs 31,000 per 10 gm mark at the domestic bullion market on Saturday on increased consumer buying interest at existing lower levels amid good wedding season off-take.

Silver also strengthened on the back of renewed demand from speculators amid higher industrial off-take.

Standard gold (99.5 purity) firmed up by Rs 65 per 10 gm to finish at Rs 31,005 from Friday's closing level of Rs 30,940.

Pure gold (99.9 purity) edged up by Rs 60 per 10 gm to end at Rs 31,140 as against Rs 31,080.

Silver ready (.999 fineness) rose by Rs 275 per kg to conclude at Rs 62,350 from Rs 62,075 yesterday.

The recent drop in gold prices sparked off reasonable buying interest from stockists and retail consumers ahead of the long wedding season, trader said.

The shiny metal had plunged to a fresh one-month low on Thursday.

On the global front, gold finished higher on bargain hunting amid speculation of more stimulus measures from US Fed in its forthcoming meet despite a stronger-than-expected jobs data in the world's largest economy.

Gold for February delivery moved up USD 3.70 to USD 1,705.50 an ounce on the Comex division of the NYMEX late yesterday.

Silver for the March contract also settled higher at USD 33.13 an ounce.

PTI

Latest News

India attaches highest importance to Bangladesh: President

President Pranab Mukherjee Friday said India attached "highest importance" to bilateral relations wi ...

China forces 63,000 officials to quit company directorships

China has forced some 63,000 government officials, including 229 at the provincial and ministerial l ...

Saeed Ajmal back in action, takes 1/23 for Pakistan A against Kenya

Suspended off-spinner, Saeed Ajmal returned to match action with a remodelled action as he ended wi ...

Related News

Tata Chemicals to focus on FMCG, agro business

Tata Chemicals Ltd (TCL) will sharpen its focus on the agro and consumer segments in the years to c ...

India, Egypt review bilateral ties, agree to boost trade

India and Egypt held their 10th round of Foreign Office Consultations in Cairo last week during whic ...

2G: Statement of additional witnesses to be recorded on Jan 27

A Delhi court today fixed January 27 for recording statements of five additional CBI witnesses in t ...

Post new comment

To combat spam, please enter the code in the image.

Rs. 26580 (Per 10g)

Opinion Poll
Calling Nathuram Godse as 'patriot', another communal card come out from the sleeves of NDA government?
YesNoCan't say

Matrimony | Photos | Videos | Search | Polls | Archives | Advertise | Letters

© The Siasat Daily, 2012. All rights reserved.
Jawaharlal Nehru Road, Abids, Hyderabad - 500001, Telangana, India
Tel: +91-40-24744180, Fax: +91-40-24603188
contact@siasat.com