Silver and gold prices soar on global surge to nearly two-week high

July 11, 2013

Silver recovered on hectic speculative buying coupled with good industrial demand. Silver ready (.999 fineness) rose by Rs 850 to close at Rs 41,860 per kg from Rs 41,010 previously.

Standard gold of 99.5 per cent purity spurted by Rs 430 to finish at Rs 26,640 per 10 gm from Wednesday's closing level of Rs 26,210.

Pure gold of 99.9 per cent purity also climbed up by a similar margin to end at Rs 26,775 per 10 gm from Rs 26,345.

At the global level, gold jumped to a near three-week high on weak dollar after the release of the minutes of US Federal Reserve meet in June indicated continuation of easy monetary stimulus measures by the Central bank.

In London, spot gold was bid higher at USD 1,282.31 an ounce in early trade and silver bid up at USD 20.26 an ounce.

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