News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

This article was first published 13 years ago
Home  » Business » Gold surges to fresh high of Rs 28,540

Gold surges to fresh high of Rs 28,540

Source: PTI
August 22, 2011 15:06 IST
Get Rediff News in your Inbox:
Gold surged to a fresh all-time high of Rs 28,540 per 10 grams in the bullion market on Monday on sustained buying by stockists and investment-driven purchases fuelled by the bullish trend in international markets.

The trading sentiment remained bullish after gold rallied to fresh record levels in overseas markets as the global economic slowdown and European debt crisis boosted demand for bullion as a safe investment haven.

Gold in global markets, which normally sets the price trend on the domestic front, shot up by $34.20 to $1,887.30

an ounce.

A firming trend in the futures market, where gold jumped to a new record level, also fuelled the uptrend.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity advanced by Rs 310 to Rs 28,540 and Rs 28,390 per ten grams, respectively. Sovereigns followed suit and gained Rs 100 to Rs 22,500 per piece of eight grams.

Trading in silver was closed today in observance of the 'Janmashtami' festival.

Get Rediff News in your Inbox:
Source: PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
 

Moneywiz Live!