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| Gold, silver hit new historic highs |
| Press Trust Of India / Mumbai Nov 18, 2009, 00:37 IST |
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Both the precious metals, gold and silver, surged to new historic peaks on the bullion market here today, triggered by a wave of buying by stockists supported by firming of prices in Nymex.
Standard gold crossed the psychological Rs 17,000-mark for the first time in the history in early trade to touch Rs 17,035 per 10 gm. It took just eight trading sessions for the standard gold to attain the Rs 17,000-mark from Rs 16,000.
Silver also seems to be catching up the rising trend in the yellow metal as it broke its earlier record high due to pe rsistent industrial demand.
Standard gold (99.5 purity) rose by Rs 85 per 10 gm to end at Rs 17,015 from overnight closing level of Rs 16,930. Pure gold (99.9 purity) also hardened by Rs 90 per 10 gm to end at Rs 17,105 from Rs 17,015 previously. Silver ready (.999 fineness) spurted by Rs 460 a kg to close at Rs 28,400 as against Rs 27,940 previously.
In New York, gold futures rose on Monday, with the most-active contract climbing above $1,140 an ounce, as a drop in the dollar attracted more investors.
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