Millennium Post

Gold rises by Rs 240/ 10 gm

London: Standard gold (99.5 per cent purity) rose by Rs 240 to Rs 26,630 per 10 gm from Tuesday’s close of Rs 26,390 on brisk low-level buying, wedding season offtake and sliding rupee valuations. Pure gold (99.9 per cent purity), too, shot up by Rs 245 to Rs 26,775 per 10 gm from Rs 26,530 while silver ready (.999 fineness) firmed up by Rs 230 to Rs 44,660 per kg against Rs 44,430 on Tuesday.

In world markets, gold climbed 0.2 per cent to $1,383.85 an ounce, after falling 1 per cent on Tuesday as US economic data backed the case for a cut in monetary stimulus by the Fed. Silver retreated 0.5 per cent to $22.23 an ounce, 27 per cent lower this year and headed for a fourth monthly loss, the worst run since June.
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