Gold spurts on fresh buying driven by firming global trend
Gold prices surged by Rs 430 to Rs 27,480 per ten gram in the national capital today on stockists buying driven by a firming global trend.business Updated: May 30, 2013 18:48 IST
Gold prices surged by Rs 430 to Rs 27,480 per ten gram in the national capital today on stockists buying driven by a firming global trend.
After gaining Rs 100 in the previous session, gold shot up as its prices regained $ 1,400 level after one-week, boosting investor demand for safe haven.
Gold price in Singapore, which normally sets price trend on the domestic front, rose 1.3% to $ 1,411.27 an ounce, the most expensive since May 22. Silver gained 0.5% to $ 22.59 an ounce.
A firming trend was also extended in silver on increased buying by industrial units and coin makers, lifting the prices by Rs 660 to Rs 44,600 per kg, after loosing Rs 60 yesterday.
In the national capital, gold of 99.9 and 99.5 per cen purity rose by Rs 430 each to Rs 27,480 and Rs 27,280 per ten gram, respectively. Sovereign also rose by Rs 100 to Rs 23,800 per piece of eight gram.
Silver ready shot up by Rs 660 to Rs 44,600 per kg and weekly-based delivery by Rs 610 to Rs 43,820 per kg on increased buying by speculators. However, silver coins held unchanged at Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.