Gold gains Rs 25 to Rs 19,025 per 10g on firm global cues | business | Hindustan Times
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Gold gains Rs 25 to Rs 19,025 per 10g on firm global cues

business Updated: Jun 14, 2010 15:59 IST

Gold prices gained Rs 25 to Rs 19,025 per ten grams in the national capital on Monday on fresh buying by traders in tandem with the firming global trend.

The trading sentiment improved after gold advanced for the second straight session in Asia on speculation that demand for the precious metal as an investment haven would drive prices to record levels.

Marketmen said fresh buying, coupled with a firming global trend, mainly led to the rise in both gold and silver prices.

The price of gold in overseas markets, which normally sets the price trend on the domestic front, gained 0.5 per cent to $ 1,232.70 an ounce.

Standard gold of 99.9 purity and 99.5 purity rose by Rs 25 each to Rs 19,025 and Rs 18,925 per ten grams respectively. However, sovereigns lacked the necessary buying support and lost Rs 50 to Rs 14,650 per piece of eight grams.

In line with the general firming trend, silver ready rose by Rs 100 to Rs 29,650 per kg and weekly-based delivery by Rs 50 to Rs 29,235 per kg.

On the other hand, silver coins lost Rs 100 to Rs 34,400 for buying and Rs 34,500 for selling of 100 pieces on sluggish demand.