Gold climbs to all-time high this week

Gold climbed to a record high of Rs 16,250 per ten gram in the bullion market here during the week after it surged to a new high in global markets bolstered by weak dollar amid continued domestic demand.

Sentiments remained strong as prices surged to a record high of 1,070.80 dollar an ounce in global markets as the dollar slid to a 14-month low against the euro.

Weaker US currency makes dollar-prices commodities, such as gold and silver, cheaper for holders of other currencies.

Standard gold and ornaments closed higher by Rs 20 at Rs 16,070 and Rs 15,920 per ten gram respectively this week after touching all-time high of Rs 16,250 and Rs 16,100, taking firm cues from global markets.

Sovereign in restricted movements, settled unchanged Rs 12,950 per piece of eight gram.

Silver ready closed lower by Rs 395 at Rs 26,925 per kg this week compared to the closing price last week. During the week, silver had surged to Rs 27,600 per kg largely on the back of seasonal demand.

Silver weekly-based delivery ended in negative zone with a fall of Rs 425 at Rs 26,900 per kg. It touched a high of Rs 27,630 per kg during the week.

Silver coins, on the other hand, ended at all-time high of Rs 32,900 for buying and Rs 33,000 for selling of 100 pieces on the back of surging demand for