|
|
|
|
|
1st Shawwal 1435 | Wednesday, Jul 30, 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

US House approves lawsuit against Obama

The US House Wednesday approved a lawsuit against President Barack Obama over alleged abuse of executive power. The 2 ...

US denounces shelling of UN school in Gaza

The US Wednesday condemned the shelling of a UN school in Gaza but refused to pinpoint Israel for it. The US does condemn the shelling of ...

Chances of revival of NSF bleak

Govt. of Telangana is persuading industrialists to setup their units in the State but the chances of taking Nizam Sugar Factory of Bodhan in ...

Related News

Nokia Networks bags 12 key deals in H1 2014

Data networking and telecommunications equipment company Nokia Networks India won 12 key deals with ...

Infosys investors give nod to Sikka as new CEO

Investors of Infosys Ltd. Wednesday approved a special resolution appointing Vishal Sikka as new chi ...

Saudi Arabia bans import of pepper from India

Saudi authorities have decided to impose temporary ban on import of pepper from India with effect from May 30, Parliament was informed today ...

Post new comment

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

Rs. 27910 (Per 10g)

Opinion Poll
Do you think World Powers are powerless in preventing Israel's offences against Palestine?
YesNoCan't say

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

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