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Gold hits all-time high of Rs23,620 on firm global cues

Gold hits all-time high of Rs23,620 on firm global cues
PTI
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First Published: Mon, Jul 25 2011. 05 25 PM IST
Updated: Mon, Jul 25 2011. 05 25 PM IST
New Delhi: Surpassing all previous records, gold roared to an all-time high of Rs23,620 per 10 grams by adding Rs200 in the national capital on Monday on increased buying by stockists and investors, driven by a record rally in global markets.
Silver also moved up by Rs500 to Rs59,500 per kg on increased offtake by industrial units and coin makers.
Silver coins followed suit and jumped by Rs1,500 to fresh high of Rs65,500 for buying and Rs66,500 for selling of 100 pieces.
Trading sentiment turned bullish as gold marched to a record of $1,624.30 an ounce by adding 1.4% overseas, after US lawmakers failed to reach an agreement on raising the federal debt limit, increasing concerns of a US default and boosting demand for the metal as a safe haven.
The white metal also gained 1.5% to $40.74 an ounce in the global markets, the highest level since 19 July.
On the domestic front, gold of 99.9 and 99.5% purity shot up by Rs200 each to fresh high of Rs23,620 and Rs23,500 per 10 grams, respectively.
Sovereigns followed suit and added Rs50 to Rs18,950 per piece of eight grams.
In line with a general firming trend, silver ready rose by Rs500 to Rs59,500 per kg and weekly-based delivery gained Rs805 to Rs60,270 per kg.
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First Published: Mon, Jul 25 2011. 05 25 PM IST
More Topics: Gold | Buliion | Silver | Markets | Commodity |