Gold, silver consolidate gains on global momentum | business | Hindustan Times
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Gold, silver consolidate gains on global momentum

Gold and silver rallied further here today on sustained speculative and investment buying sparked by rising global markets. Standard gold (99.5 purity) jumped by Rs 860 per 10 grams to finish at Rs 27,665 from Friday's closing level of Rs 26,805.

business Updated: Aug 27, 2011 17:08 IST

Gold and silver rallied further here on Saturday on sustained speculative and investment buying sparked by rising global markets. Standard gold (99.5 purity) jumped by Rs 860 per 10 grams to finish at Rs 27,665 from Friday's closing level of Rs 26,805.

Pure gold (99.9 purity) shot up by a similar margin of Rs 860 per 10 grams to close at Rs 27,790 from Friday's closing level of Rs 26,930.

Silver ready (.999 fineness) climbed by Rs 955 per kg to end at Rs 64,440 from Rs 63,485 previously.

At the global front, gold continued its surge over positive views on US economy at the Federal Reserve meet, which, however, sidelined discussion on further quantitative easing measures.

In New York, gold for December delivery gained $34.10 to $1,797.30 an ounce on the Comex Division of the NYMEX.

September silver rose by 21 cents to $40.95 an ounce.