Gold rises to Rs 22,585 on global cues, silver adds Rs 250
Gold rose by Rs 90 to Rs 22,585 per 10 grams and silver gained Rs 250 to Rs 53,600 per kg today on fresh buying by stockists and speculators amid a firming global trend.business Updated: Jun 30, 2011 16:53 IST
Gold rose by Rs 90 to Rs 22,585 per 10 grams and silver gained Rs 250 to Rs 53,600 per kg on Thursday on fresh buying by stockists and speculators amid a firming global trend.
Silver coins also spurted by Rs 2,000 to Rs 61,000 for buying and Rs 62,000 for selling of 100 pieces.
Buying activity in the precious metals picked up after Greek bailout talks stalled, driving the euro lower and boosting the appeal of the precious metal as a safe haven.
Gold in global markets, which normally sets a price trend on the domestic front, rose by $6.50 to $1,530.60 an ounce, while silver gained 1.19 per cent to $35.81.
On the domestic front, gold of 99.9 and 99.5 per cent purity recovered by Rs 90 each to Rs 22,585 and Rs 22,465 per 10 grams, respectively.
Sovereigns also traded higher by Rs 50 to Rs 18,700 per piece of eight grams.
In line with a general firming trend, silver ready added Rs 250 to Rs 53,600 per kg and weekly-based delivery gained Rs 380 to Rs 53,270 per kg.