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Gold, silver climb a record on overseas rally

Gold, silver climb a record on overseas rally
PTI
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First Published: Fri, Apr 22 2011. 03 49 PM IST
Updated: Fri, Apr 22 2011. 03 49 PM IST
New Delhi: Gold on Friday rose by Rs30 to a record of Rs22,090 per ten grams, while silver surged by Rs1,400 to an all-time high of Rs70,000 per kg on sustained buying by stockists amid a rally overseas.
Trading sentiment remained bullish at home even as gold in international markets advanced to the peak of $1,511.47 an ounce as a weaker dollar and debt concerns boosted the metal’s appeal as an alternative investment.
Silver also rose to its 31-year high at $46.86 an ounce, the highest price since 1980.
Besides, retail customers and industrial units buying further fuelled the uptrend.
On the domestic front, gold of 99.9 and 99.5% purity rose by Rs30 each to Rs22,090 and Rs21,970 per ten grams respectively. Sovereign, however, held steady at Rs18,000 per piece of eight grams in restricted buying.
Silver ready continued its winning streak for the sixth straight day and surged by Rs1,400 to Rs70,000 per kg and weekly-based delivery by Rs510 to Rs68,000 per kg. Silver coins also climbed by Rs1,000 to a new record of Rs75,000 for buying and Rs76,000 for selling of 100 pieces.
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First Published: Fri, Apr 22 2011. 03 49 PM IST
More Topics: Gold | Buliion | Markets | Silver | Commodity |