Gold hits new high at Rs. 31,850 on firm global cues
Gold today broke all previous records to touch a all-time high of Rs. 31,850 per 10 grams, buoyed by brisk buying by stockists in tandem with strong global cues.business Updated: Sep 04, 2012 15:57 IST
Gold on Tuesday broke all previous records to touch a all-time high of Rs. 31,850 per 10 grams, buoyed by brisk buying by stockists in tandem with strong global cues.
The precious metal, which has been on an upward swing since last two weeks, shot up by Rs. 240 to Rs. 31,850 per 10 grams in the national capital region, surpassing previous record of Rs. 31,725 set on September 1.
Silver followed suit and gained Rs. 1,200 to Rs. 60,200 per kg.
The trading sentiment bolstered after gold gained to the highest level in more than five months in overseas markets as global data strengthened the case for more central bank measures to boost growth, increasing demand for the metal.
In Singapore, gold rose by 0.3% to $1,697.20 an ounce, a record level since March 13 this year.
On the domestic front, gold of 99.9 and 99.5% purity climbed by Rs. 240 each to Rs. 31,850 and Rs. 31,650 per 10 grams, respectively. Sovereigns held steady at Rs. 24,950 per piece of eight grams.
Similarly, silver ready recorded a handsome gains of Rs. 1200 to Rs. 60,200 per kg and weekly-based delivery by Rs. 980 to Rs. 61,780 per kg.
Silver coins jumped up by Rs. 1000 to Rs. 75,000 for buying and Rs. 76,000 for selling of 100 pieces.