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 ...

Advertisements

Quick Links

 

Market News

Rubber output drops 26% in Aug; import continues to surge

The production between April and August, the first five months of the current financial year, saw a 4.5% rise to 277,000 tonnes from 265,000 ...

Another year of sugar supply glut on the cards

This is despite the one per cent fall in cane sowing area

Today's picks- 17 September 2014

Nifty, Bank Nifty, Cairn, TCS & Jindal Steel

Coal stock position at thermal plants to improve in a month

ECL, BCCL, and CCL are short-staffed during the festive season, situation to come under control from mid-Oct onwards

NCDEX proposes online mandi trading facility in Odisha

NSPOT has plans to partner with the state government to provide the required facilities

Back to Top