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Gold recovers on firm global trends

Gold recovers on firm global trends
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First Published: Thu, Mar 15 2007. 07 06 PM IST
Updated: Thu, Mar 15 2007. 07 06 PM IST
PTI
New Delhi: Gold prices recovered on the bullion market on 15 March on revival of buying by stockists and retail customers influenced by firm overseas trends, and closed with a gain of Rs15 at Rs9,345 per ten grams.
Marketmen said buying activity picked up as investors found no other option of parking their funds in view of a steep rise in stock markets across the globe.
They said firming international gold prices, which normally sets the price band in domestic markets here was another boosting factor.
In the Asian region, Tokyo gold futures were higher after falling from the daily limit yesterday as rising stock prices left no other place for investors to park their funds.
Gold rose by $2 to $646.70 an ounce and in futures for April rose $5.10 to $647.60. Silver advanced 4 cents to $12.88 an ounce.
Standard gold and ornaments gained Rs15 each at Rs9,345 and Rs9,195 per ten grams respectively. Sovereign was unchanged at Rs7,800 a piece of eight grams.
Silver ready spurted by Rs250 at Rs19,250 a kilo and weekly based delivery by Rs70 at Rs19.450 a kilo. Silver coins were also higher by Rs300 at Rs23,800 for buying and Rs24,000 for selling of 100 pieces.
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First Published: Thu, Mar 15 2007. 07 06 PM IST
More Topics: Money Matters | Commodities |