Gold extends rally on higher global cues, silver also surges | business | Hindustan Times
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Gold extends rally on higher global cues, silver also surges

Gold prices firmed up further at the bullion market here today due to persistent buying by stockists and jewellers amid a firm trend in global markets.

business Updated: May 08, 2010 17:23 IST

Gold prices firmed up further at the bullion market here today due to persistent buying by stockists and jewellers amid a firm trend in global markets.

Catching up with the general trend, silver also surged on sustained demand from industrial users fueled by strong overseas sentiment.

Standard gold (99.5 purity) shot up by Rs 110 per ten grams to end at Rs 17,955 from yesterday's closing level of Rs 17,845.

Pure gold (99.9 purity) also hardened by Rs 105 per ten grams to close at Rs 18,035 as against Rs 17,930 yesterday.

Silver ready (.999 fineness) spurted by Rs 830 per kilo to conclude at Rs 29,230 from Rs 28,400 previously.

In New York, gold futures for June delivery settled higher by USD 13.10, or 1.1 per cent, to USD 1,210.40 an ounce on the Comex division of the NYMEX.

Silver for July delivery added 94 cents, or 5.3 per cent, to finish at Rs 18.45 an ounce.