vishnuvega
28-05-2008, 06:51 AM
Gold maintained its upward march for the second day by gaining Rs 40 at Rs 13,030 per 10 grams on rise in demand among jewellers and retail customers following reports of firming global trends.
Silver too remained firm on fresh demand and rose Rs 150 to Rs 25,250 per kg.
Retail customers were buying gold and jewellery on fear the precious metal might set new record high in coming days, traders said.
They said high crude oil prices and dollar's weakness against euro raised concerns of inflation globally and bolstered demand for gold as a safe-haven.
Global trends, which normally set gold prices in domestic bullion markets in New Delhi, surged to $931.05 in Singapore from $928 closing in New York last evening.
In the domestic market, standard gold and ornaments gained by Rs 40 each to settle at Rs 13,030 and Rs 12,880 per 10 grams respectively. However, sovereign remained flat at Rs 10,050 per piece of eight gram in limited deals.
Silver ready rose by Rs 150 at Rs 25,250 per kg and weekly-based delivery by Rs 110 at Rs 25,360 per kg respectively. Its coins also gained Rs 100 at Rs 27,200 for buying and Rs 27,300 for selling of 100 coins.
Silver too remained firm on fresh demand and rose Rs 150 to Rs 25,250 per kg.
Retail customers were buying gold and jewellery on fear the precious metal might set new record high in coming days, traders said.
They said high crude oil prices and dollar's weakness against euro raised concerns of inflation globally and bolstered demand for gold as a safe-haven.
Global trends, which normally set gold prices in domestic bullion markets in New Delhi, surged to $931.05 in Singapore from $928 closing in New York last evening.
In the domestic market, standard gold and ornaments gained by Rs 40 each to settle at Rs 13,030 and Rs 12,880 per 10 grams respectively. However, sovereign remained flat at Rs 10,050 per piece of eight gram in limited deals.
Silver ready rose by Rs 150 at Rs 25,250 per kg and weekly-based delivery by Rs 110 at Rs 25,360 per kg respectively. Its coins also gained Rs 100 at Rs 27,200 for buying and Rs 27,300 for selling of 100 coins.