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Source: media reports

Gold rebounds on firm Asian cues

Gold rebounds on firm Asian cues
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First Published: Mon, Jun 22 2009. 02 25 PM IST
Updated: Mon, Jun 22 2009. 02 25 PM IST
New Delhi: Gold prices on Monday regained its sheen and traded Rs100 higher at Rs14,790 per 10 gram in the bullion market here on frantic buying by stockists, driven by a firming trend in other Asian markets.
However, silver extended its losses and fell by Rs150 to Rs22,500 per kg.
Marketmen said buying activity in gold picked up after the precious metal strengthened in other Asian markets.
In Asian trade, gold prices surged to $953.50 an ounce from last close of $934.
In the national capital, standard gold and ornaments recovered sharply by Rs100 each to Rs14,790 and Rs14,640 per 10 gram, respectively, while sovereign remained unchanged at Rs12,400 per piece of eight gram in the absence of worthwhile buying activity.
On the other hand, silver ready dropped by Rs150 to Rs22,500 per kg and weekly-based delivery by Rs165 to Rs22,505 per kg, respectively.
Silver coins continued to be asked around previous level at Rs29,200 for buying and Rs29,300 for selling of 100 pieces.
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First Published: Mon, Jun 22 2009. 02 25 PM IST
More Topics: Gold | Rupee | Dollar | World Bank | Gold futures |