Gold regains 27k mark on heavy demand
31 May 2013 11:39 PM GMT
The strong momentum in gold continued for the third day on Friday and helped it regain the psychologically crucial Rs 27,000 per 10 gm mark at the domestic bullion market.
The yellow metal went up on aggressive stockists as well as speculative demand driven by bullish overseas sentiment.
The shiny metal has gone up by a whopping Rs 810 per 10 grams on the back of ongoing wedding season and investment buying amid sliding rupee valuations. In contrast, industrial metal moved down owing to poor industrial buying support.
Standard gold of 99.5 per cent purity jumped by Rs 285 to finish at Rs 27,200 per 10 gm from Thursday's closing level of Rs 26,915. Pure gold of 99.9 per cent purity also rallied by a similar margin to end at Rs 27,345 per 10 gm from Rs 27,060. Silver ready (.999 fineness), however fell by Rs 60 to settle at Rs 45,220 per kg from Rs 45,280 on Thursday.
The yellow metal went up on aggressive stockists as well as speculative demand driven by bullish overseas sentiment.
The shiny metal has gone up by a whopping Rs 810 per 10 grams on the back of ongoing wedding season and investment buying amid sliding rupee valuations. In contrast, industrial metal moved down owing to poor industrial buying support.
Standard gold of 99.5 per cent purity jumped by Rs 285 to finish at Rs 27,200 per 10 gm from Thursday's closing level of Rs 26,915. Pure gold of 99.9 per cent purity also rallied by a similar margin to end at Rs 27,345 per 10 gm from Rs 27,060. Silver ready (.999 fineness), however fell by Rs 60 to settle at Rs 45,220 per kg from Rs 45,280 on Thursday.
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