Gold prices resumed sharply higher by Rs 315 per 10 grams to Rs 12,055 in the bullion market here on Thursday on fresh stockists buying triggered by smart rise in New York market. | |
| Silver prices also shot up on renewed industrial demand. In New York, gold futures rallied sharply as crude oil set a record high, the dollar weakened and equities declined. June gold rose by $19.50 to $937.50 an ounce on the Comex division of the New York Mercantile Exchange. |
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| Gold futures extended earlier gains heading into the close on support from strike news, a dealer said. Peru's National Mining Federation plans to start an indefinite national mining sector strike from May 12 to back a range of demands. |
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| In the domestic market, standard gold (99.5 purity) opened sharply higher at Rs 12,055 as against the yesterday's closing level of Rs 11,740. |
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| Pure gold (99.9 purity) also rose to Rs 12,110 from Rs 11,805 previously. |
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| Silver ready (.999 fineness) firmed up by Rs 590 a kg to Rs 24,065 from Rs 23,475 yesterday. |
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