BW Communities

Gold Crosses Rs 22K Mark, Silver Shines

BW Online Bureau Nov 08, 2014

<?xml version="1.0" encoding="UTF-8"?><root available-locales="en_US," default-locale="en_US"><static-content language-id="en_US"><![CDATA[Gold crossed the psychological Rs 22,000-mark on Wednesday on aggressive buying by stockists, amid a rising global trend. It rose by Rs 115 to Rs 22,060 per 10 grams. Silver also climbed to a new high and rose by Rs 1,850 to Rs 66,300 per kg on rising demand from industrial units. Silver coins followed suit and shot up by Rs 1,500 to a record high of Rs 72,000 for buying and Rs 72,500 for selling of 100 pieces. Trading sentiments remained bullish as gold extended its record-making rally to top $1,500 an ounce in global markets as dollar fell on mounting debt in Europe and the US, prompting investors to seek bullion as a store of value. In international markets, gold climbed 0.3 per cent to $1,500.43 an ounce and silver jumped 0.9 per cent to a 31-year peak of $44.35 an ounce. Besides, retail customers and jewellers buying for the coming marriage season further fuelled the uptrend. On the domestic front, gold of 99.9 and 99.5 per cent purity shot up by Rs 115 each to a new high of Rs 22,060 and Rs 21,940 per 10 grams, respectively. Sovereigns also moved up by Rs 100 to fresh peak level of Rs 18,000 per piece of eight grams. Silver continued its record setting spree and spurted by Rs 1,850 to new peak level of Rs 66,300 per kg and weekly-based delivery by Rs 1,530 to Rs 65,055 per kg. (PTI)