Gold prices spurted at the bullion market on Thursday on strong demand from stockists and traders coupled with marriage season off—take from consumers amid higher global cues. Silver also soared on low—level speculative buying and industrial demand, and regained the Rs.45,000 per kg mark.
Standard gold of 99.5 per cent purity shot up by Rs.400 to end at Rs.26,970 per 10 gms from Wednesday’s closing level of Rs.26,570. Pure gold of 99.9 per cent purity also surged by a similar margin to finish at Rs.27,110 per 10 gms from Rs.26,710.
Silver ready (.999 fineness) vaulted by Rs.715 to close at Rs.45,315 per kg from Rs.44,600 yesterday. At global front, gold strengthened to hit 10—day highs on hectic physical demand, boosted by weak dollar amid subdued investor confidence over recent sell—off and unabated outflows from exchange—traded funds (ETF).
In Europe, spot gold was bid higher at $1,448.10 an ounce in early trade, while silver was bid up at $23.43 an ounce.
Source: Hindu business line.
Source: Bullion Bulletin