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Gold zooms to all-time high

business Updated: May 17, 2010 20:51 IST

Agencies
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Gold prices rallied to an all-time high to open at Rs 18,430 per ten grams on the bullion market on Monday on heavy stockists as well as retail investors buying in view of festive season amidst bullish trend in the global markets. Silver also firmed up on good demand from industrial users.

Standard gold (99.5 purity) rose by Rs 215 per ten grams to open at Rs 18,430 from last weekend's level of Rs 18,215. Pure gold (99.9 purity) also shot up to resume at a new peak of Rs 18,520 from Rs 18,305 previously.

But, the country’s gold traders and retailers recorded sharp falls on the Akshaya Tritiya festival, in an indication demand may remain subdued this year if global prices continue to stay firm.