Gold Zooms to All-Time High on Marriage Season Demand
By
siliconindia | Thursday, November 10, 2011
New Delhi: Gold Wednesday crossed the all-time high level of
29,000 while silver coins touched the record
68,000 mark in the bullion market here on strong demand propelled by ongoing marriage season and deepening financial worries.
Gold gained
200 to touch an all-time high of
29,140 per 10 grams as the metal rallied in overseas markets to a seven-week high on concerns that European leaders will be unable to tame the region''s sovereign-debt crisis.
Silver coins followed suit and shot up by
2,500 to an all-time high of of
68,000 for buying and Rs 69,000 for selling of 100 pieces.
Traders said heavy buying jewellery makers to meet the marriage season demand and shifting of funds by investors to bullion from melting equity boosted the trading sentiment.
Gold of 99.9 and 99.5 per cent purity surged by
200 each to
29,140 and
29,000 per 10 grams.
The metal gained 0.7 percent to $1,802.93 an ounce in Singapore, the highest level since September 21. Silver also climb 0.5 percent to $35.13 an ounce.
Sovereign also rose to record level by adding
150 to
23,150 per piece of eight grams.
Silver ready spurted by
650 to
58,000 per kg and weekly-based delivery by
390 to
57,870 per kg.
Source: PTI
29,000 while silver coins touched the record
68,000 mark in the bullion market here on strong demand propelled by ongoing marriage season and deepening financial worries.
Gold gained
200 to touch an all-time high of
29,140 per 10 grams as the metal rallied in overseas markets to a seven-week high on concerns that European leaders will be unable to tame the region''s sovereign-debt crisis.
Silver coins followed suit and shot up by
2,500 to an all-time high of of
68,000 for buying and Rs 69,000 for selling of 100 pieces.
Traders said heavy buying jewellery makers to meet the marriage season demand and shifting of funds by investors to bullion from melting equity boosted the trading sentiment.
Gold of 99.9 and 99.5 per cent purity surged by
200 each to
29,140 and
29,000 per 10 grams.
The metal gained 0.7 percent to $1,802.93 an ounce in Singapore, the highest level since September 21. Silver also climb 0.5 percent to $35.13 an ounce.
Sovereign also rose to record level by adding
150 to
23,150 per piece of eight grams.
Silver ready spurted by
650 to
58,000 per kg and weekly-based delivery by
390 to
57,870 per kg.
