Gold surge on firming global trend
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Gold prices shot up in the national capital on Thursday on emergence of buying by stockists influenced by a firming overseas trend and placed Rs 110 high at Rs 13,180 per 10 gram.
Silver followed the same trend rising by Rs 200 at Rs 20,700 per kg.
Buying activity picked up after the metal in London rose on weakening dollar and rising concerns that the $700 billion bailout plan for the banking system might be delayed.
The impact was felt in the bullion market with the standard gold and ornaments gaining Rs 110 each at Rs 13,180 and Rs 13,030 per 10 gram respectively. Sovereign also rose by Rs 50 at Rs 10,500 per piece of eight gram.
Silver ready shot up by Rs 200 at Rs 20,700 per kg and weekly-based delivery by Rs 350 at Rs 20,980 per kg as speculators extended support on expectations that the metal might go further higher.
Silver coins held unchanged at Rs 28,300 for buying and Rs 28,400 for selling of 100 pieces.
Silver followed the same trend rising by Rs 200 at Rs 20,700 per kg.
Buying activity picked up after the metal in London rose on weakening dollar and rising concerns that the $700 billion bailout plan for the banking system might be delayed.
The impact was felt in the bullion market with the standard gold and ornaments gaining Rs 110 each at Rs 13,180 and Rs 13,030 per 10 gram respectively. Sovereign also rose by Rs 50 at Rs 10,500 per piece of eight gram.
Silver ready shot up by Rs 200 at Rs 20,700 per kg and weekly-based delivery by Rs 350 at Rs 20,980 per kg as speculators extended support on expectations that the metal might go further higher.
Silver coins held unchanged at Rs 28,300 for buying and Rs 28,400 for selling of 100 pieces.
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