Gold climbs new peak at `23,270 on global cues
PRESS TRUST OF INDIA
New Delhi, July 16: Gold surged Rs 150 to hit a new high of Rs 23,270 per 10 grams today on brisk buying by stockists, driven by a firming global trend. Silver also staged a strong come back by rising Rs 1,000 to Rs 57,500 per kg on increased off take by industrial units.
Trading sentiments turned bullish as the yellow metal rose to a record high level in global markets, on mounting concern that debt woes in the US will escalate, boosting its appeal as a safe haven.
Gold in global markets, which normally sets the price trend on the domestic front, rose to a record $ 1,594.90 an ounce.
On the domestic front, gold of 99.9 and 99.5 per cent purity flared up by Rs 150 each to hit a new high of Rs 23,270 and Rs 23,150 per 10 grams, respectively. However, sovereigns held steady at Rs 18,850 per piece of eight grams.
Lastupdate on : Sat, 16 Jul 2011 21:30:00 Makkah time
Lastupdate on : Sat, 16 Jul 2011 18:30:00 GMT
Lastupdate on : Sun, 17 Jul 2011 00:00:00 IST
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