Gold & Silver Surge

Gold prices shot up further and came close to its all-time high level at the domestic bullion market here on Tuesday on frantic stockists as well as investment driven buying spree boosted by global rally.

Silver too jumped on the heavy speculative buyout coupled with strong industrial demand.

Considering the worsening political and economic situations in Europe amid strong domestic demand due to marriage season, the conditions are perfect for the yellow metals to climb further high, bullion trader said.

Standard gold (99.5 purity) spurted by rupees 530 per 10 gram to end at Rupees 2,8630 from Rs. 28,100. It had touched an all-time high of Rs. 28,660 per 10 gram on september 6 this year. Pure gold (99.9 purity) zoomed Rs. 525 per 10 gram to close at Rs.28,755 against Rs. 28,230

Silver ready (999 finesses) galloped by Rs. 765 a kg to finish at Rs. 57,865 against Rs. 57,100. In New York, gold December delivery rose by $35 to settle at $1,791.10 announce PTI.

Kavitha, Member, Colossus

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