Gold nearing Rs 15k mark on strong global cues | business | Hindustan Times
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Gold nearing Rs 15k mark on strong global cues

business Updated: May 13, 2009 21:46 IST

Gold prices closed in on the crucial Rs 15,000-mark today by gaining Rs 140 per 10 gram in the bullion market here on hectic buying by stockists and jewellery fabricators amid firming global trends.

The precious metal surged Rs 140 at Rs 14,970 per 10 gram, while silver prices rose Rs 300 at Rs 22,600 a kg.

Marketmen said trading sentiment turned bullish here after reports of precious metal rising in London to six-week high. The metal gained in London after the US dollar declined, spurring demand for gold as a hedge against inflation.

They said the silver was in demand as industrial units feared the prices might go up further.
Standard gold and ornaments surged Rs 140 each to Rs 14,970 and Rs 14,820 per 10 gram respectively and sovereign rose by Rs 150 to Rs 12,350 per piece of 8 gram.

Silver ready gained Rs 300 to Rs 22,600 per kg and weekly-based delivery by Rs 560 to Rs 23,150 per kg respectively.

Silver coins also gained Rs 100 to Rs 29,100 for buying and Rs 29,200 for selling of 100 pieces.