Business Standard

Gold rebounds on renewed demand, global surge

However, silver decline continues amid subdued industrial off-take

Related News

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.

Read more on:   
|
|

Read More

Asian gold up, but set for worst May performance in 30 years

Gold rose back above $1,570 an ounce on Thursday as expectations of an Irish vote in favour of Europe's fiscal pact lifted the euro, but this month's ...

Quick Links

 

Market News

Restructuring should precede PSU disinvestment

The disinvestment target of the government for 2013-14 is Rs 58,000 cr

Kalyan Jewellers raises Rs 1,200 cr from Warburg Pincus

Company is said to have diluted around 10-12% stake to the PE firm

Pulse prices move up on lower kharif output estimates

Lower kharif production estimates fuel the rise; fall in global output also likely to keep prices up

UP sugar crisis defuses as mills ready to go for cane crushing

Private mills owe farmers Rs 2,500 crore in arrears for the earlier crushing season

FIIs hive off Nifty shares in different baskets

Foreign institutional investors (FIIs), the biggest shareholders outside the promoter group, pared their holdings in almost half of the Nifty ...

Back to Top