Business Standard

Gold rebounds on renewed demand, global surge

However, silver decline continues amid subdued industrial off-take

Press Trust of India  |  Mumbai 

prices reversed its three-day plunge and rose at the domestic market here today on emergency of fresh buying at existing levels from stockists and investors following bullish global cues.

In contrast, continued to witness aggressive unwinding from speculators and traders amid subdued industrial off-take.

Standard gold (99.5 purity) spurted by Rs 80 to settle at Rs 29,610 per 10 grams from overnight closing level of Rs 29,530.

Pure gold (99.9 purity) also went up by Rs 85 to close at Rs 29,745 per 10 gm from Rs 29,660 yesterday.

Silver ready (.999 fineness) however, dropped by Rs 310 per kg to finish at Rs 52,980 as compared to Friday's close of Rs 53,290.

On the global front, gold staged a strong come back and rallied above the psychological $1,600 mark following fresh measures taken by European leaders to tackle the regions worst debt crisis, triggering a global relief rally in equities and commodities.

Gold for August delivery zoomed by $53.80 to $1,604.20 an ounce on the Comex division of the Nymex late yesterday.

Silver for July contract soared by $1.33 cents to close $27.58 an ounce.

RECOMMENDED FOR YOU

Gold rebounds on renewed demand, global surge

However, silver decline continues amid subdued industrial off-take

Gold prices reversed its three-day plunge and rose at the domestic bullion market here today on emergency of fresh buying at existing levels from stockists and investors following bullish global cues.

prices reversed its three-day plunge and rose at the domestic market here today on emergency of fresh buying at existing levels from stockists and investors following bullish global cues.

In contrast, continued to witness aggressive unwinding from speculators and traders amid subdued industrial off-take.

Standard gold (99.5 purity) spurted by Rs 80 to settle at Rs 29,610 per 10 grams from overnight closing level of Rs 29,530.

Pure gold (99.9 purity) also went up by Rs 85 to close at Rs 29,745 per 10 gm from Rs 29,660 yesterday.

Silver ready (.999 fineness) however, dropped by Rs 310 per kg to finish at Rs 52,980 as compared to Friday's close of Rs 53,290.

On the global front, gold staged a strong come back and rallied above the psychological $1,600 mark following fresh measures taken by European leaders to tackle the regions worst debt crisis, triggering a global relief rally in equities and commodities.

Gold for August delivery zoomed by $53.80 to $1,604.20 an ounce on the Comex division of the Nymex late yesterday.

Silver for July contract soared by $1.33 cents to close $27.58 an ounce.

image

LIVE MARKET

BSE

  ( %)

NSE

  ( %)

Widgets Magazine

More News

STOCK WATCH

Company Price() Chg(%)
Ashiana Housing 149.55 7.82
T.V. Today Netw. 311.30 7.10
Lupin 1904.00 4.68
JP Power Ven. 5.98 4.36
BASF India 757.90 4.11
> More on BSE Gainers
Company Price() Chg(%)
T.V. Today Netw. 311.30 7.20
JP Power Ven. 6.05 5.22
Lanco Infratech 6.45 4.88
Lupin 1905.65 4.65
BASF India 758.35 4.28
> More on NSE Gainers
Company Price() Chg(%)
Dena Bank 31.25 -12.10
Motherson Sumi 241.40 -11.07
Just Dial 501.80 -7.89
Punjab Natl.Bank 87.85 -6.89
Strides Shasun 1031.50 -6.85
> More on BSE Gainers
Company Price() Chg(%)
Dena Bank 31.20 -12.24
Motherson Sumi 241.70 -10.99
Metalyst Forg. 63.20 -8.07
Shrenuj & Co. 16.20 -7.95
Just Dial 501.75 -7.32
> More on NSE Gainers
Widgets Magazine
Widgets Magazine
Widgets Magazine

Derivatives

Index
Instrument Type
Expiry Date
Option Type
Strike Price