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HindustanTimes Fri,22 Aug 2014

Gold, silver climb as rupee tumbles to record low

PTI  New Delhi, August 22, 2013
First Published: 10:51 IST(22/8/2013) | Last Updated: 18:18 IST(22/8/2013)

Gold prices surged by Rs. 625 to Rs. 31,750 per ten gram in the national capital on Thursday on weakening rupee amid stockists buying ahead of festive and marriage season.

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On similar lines, silver spurted by Rs. 1,745 to Rs. 51,900 per kg on increased offtake by jewellers and coin makers.

Traders said free-fall in rupee which tumbled to a historic low of 65.53 (intra-day) increased speculations that it would make precious metals import costlier.

Besides, a firming global trend and stockists buying for coming marriage and festival season further supported both the precious metals.

On the domestic front, gold of 99.9 and 99.5 per cent purity surged by Rs. 625 each to Rs. 31,750 and Rs. 31,550 per ten gram, respectively. Sovereign followed suit and rose by Rs. 200 to Rs. 25,100 per piece of eight gram.

In a similar fashion, silver ready recorded a sharp gains of Rs. 1,745 to Rs. 51,900 per kg and weekly-based delivery by Rs. 1685 per kg. Silver coins also spurted by Rs. 3,000 to Rs. 88,000 for buying and Rs. 89,000 for selling of 100 pieces.


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