Gold climbs to fresh one month high

June 21, 2014

Mumbai-India (June 21)  Gold prices on Saturday jumped up by Rs 100 to trade at a fresh one-month high of Rs 28,725 per 10 grams in the national capital on increased buying by stockists and investors.

Silver, however, held steady at Rs 44,900 per kg in restricted buying at prevailing levels.

Marketmen said increased buying by stockists and jewellers to meet wedding season demand, mainly attributed persistent rise in gold prices but a weak trend overseas, capped the gains.

A weak rupee against the dollar, making gold imports costlier also influenced prices, they said.

In Delhi, gold of 99.9 and 99.5 per cent purity advanced by Rs 100 each to Rs 28,725 and Rs 28,525 per 10 grams respectively. On Friday, it had recorded its biggest single-day rise of Rs 605 this year. Sovereigns held flat at Rs 24,900 per piece of eight grams.

On the other hand, silver ready ruled steady at Rs 44,900 per kg, while weekly-based delivery gained Rs 190 to Rs 44,570 per kg on scattered support.

Silver coins, however, lacked necessary follow up support and plunged by Rs 2,000 to Rs 78,000 for buying and Rs 79,000 for selling of 100 pieces.

Source:  TheHindu

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