Gold rallies on strong global cues, silver also shines
Gold prices rallied further at the domestic bullion market on consistent speculative as well as investment driven buying spree.
By PTI | Updated:
MUMBAI: Gold prices rallied further at the domestic bullion market here today on consistent speculative as well as investment driven buying spree influenced by strong global momentum.
Silver also advanced on buying by stockists amid increased industrial offtake.
On the global front, gold extended its gains on worries over escalating euro zone debt crisis after the weekend policymakers' meet failed to come out with any strong austerity measures, fuelling fears Greece may default.
Standard gold (99.5 purity) surged by Rs 360 per 10 grams to finish at Rs 28,160 from last Saturday's closing level of Rs 27,800.
Pure gold (99.9 purity) spurted by Rs 390 per 10 grams to end at Rs 28,300 from Rs 27,910.
Silver ready (.999 fineness) firmed up by Rs 170 per kilo to conclude at Rs 64,595 as compared to Rs 64,425 last weekend.
In Europe, spot gold was bid at USD 1,824.45 an ounce in early trade.
Silver also advanced on buying by stockists amid increased industrial offtake.
On the global front, gold extended its gains on worries over escalating euro zone debt crisis after the weekend policymakers' meet failed to come out with any strong austerity measures, fuelling fears Greece may default.
Standard gold (99.5 purity) surged by Rs 360 per 10 grams to finish at Rs 28,160 from last Saturday's closing level of Rs 27,800.
Pure gold (99.9 purity) spurted by Rs 390 per 10 grams to end at Rs 28,300 from Rs 27,910.
Silver ready (.999 fineness) firmed up by Rs 170 per kilo to conclude at Rs 64,595 as compared to Rs 64,425 last weekend.
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In Europe, spot gold was bid at USD 1,824.45 an ounce in early trade.
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