Gold Climbs to All-Time High of
30,550 on Global Cues
By
siliconindia | Thursday, June 14, 2012
New Delhi: Gold prices surged to an all-time high of
30,550 per 10 gm in the national capital on sustained buying by jewellers for the coming marriage season amid a firming global trend.
The gold on Thursday climbed
130 level, surpassing its previous record level of
30,420 set on
Wednesday. The yellow metal had gained
920 in previous four trading sessions.
Silver also rose by
100 to
55,700 per kg on increased offtake by industrial units.
Sentiment remained firm after gold gained in global markets on speculation the Federal Reserve will take more steps to buoy the economy, potentially hurting the dollar.
Gold in global markets, which normally set price trend on the domestic front, rose 0.2 percent to $1,619.63 dollar an ounce and silver by 0.5 percent to $28.95 in London.
In addition, increased buying by stockists and jewellers for the coming marriage season and shifting of funds from weakening equity market to rising bullion further fuelled the uptrend in precious metals.
On the domestic front, gold of 99.9 and 99.5 percent purity advanced by
130 each to
30,550 and
30,350 per 10 gm, respectively, a level never seen before.
Sovereign followed suit and added
50 to
24,350 per piece of eight gram.
Similarly, silver ready rose further by
100 to
55,700 per kg and weekly-based delivery by
70 to
55,240 per kg.
On the other hand, silver coins held steady at
65,000 for buying and
66,000 for selling of 100 pieces.
Source: PTI
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