Gold at record high, breaches Rs 19,000 per 10 gm mark in India | delhi | Hindustan Times
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Gold at record high, breaches Rs 19,000 per 10 gm mark in India

delhi Updated: Jun 01, 2010 19:27 IST

Gold prices surged to hit an all-time high at the bullion market here today on fresh buying on the back of marriage season amid a firming global trend.

Silver also spiked to reach the 30,000 level on fresh buying by the industrial users.

Standard gold (99.5 purity) shot up by Rs 345 per ten grams to finish at a new peak of Rs 18,750 from yesterday's closing level of Rs 18,405.

Pure gold (99.9 purity) zoomed by Rs 350 per ten grams to a historic high of Rs 18,840 as against previous closing of Rs 18,490.

Silver ready (.999 fineness) increased by Rs 250 per kilo to Rs 30,000 from Rs 29,750 yesterday.

In Europe, the yellow metal found a renewed interest among investors, as risk avoiding safe haven, after European Central Bank warned that the euro zone banks could face a fresh wave of losses.

The surge in gold in the country was also due to the falling value of rupee and sluggish equity markets, traders said.

US gold futures for June delivery rose USD 9.50 to USD 1,221.70 an ounce. Spot gold was bid at USD 1,221.95 an ounce early today against 1,214.20 late in New York on Monday.

Silver was bid at USD 18.31 an ounce as against USD 18.49.