Gold surges on global cues, silver also recovers | business | Hindustan Times
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Gold surges on global cues, silver also recovers

business Updated: Jul 30, 2011 16:34 IST

Gold prices surged at the domestic bullion market here on Saturday on sustained buying by stockists and investors amid record global cues.

Silver also recovered smartly on fresh speculative as well as industrial demand.

Standard gold (99.5 purity) spurted by Rs 115 per 10 grams to close at Rs 23,300 from Friday's closing level of Rs 23,185.

Pure gold (99.9 purity) rose by Rs 120 per 10 grams to finish at Rs 23,415 from Rs 23,295 Friday.

Silver ready (.999 fineness) rallied by Rs 320 per kg to conclude at Rs 59,035 as against Rs 58,715 previously.

In New York, gold ended at record highs on the back of weak US GDP figures amid vote postponement over American debt plan.

Gold for December delivery added $15 to settle at $1,631.20 an ounce on the Comex division of the Nymex.

September silver added 31 cents to trade at $40.11 an ounce.