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Gold crosses Rs12,700 mark

Gold crosses Rs12,700 mark
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First Published: Mon, Mar 03 2008. 02 14 PM IST
Updated: Mon, Mar 03 2008. 02 14 PM IST
PTI
Mumbai: Gold prices touched the record level of Rs 12,755 per 10 grams in the bullion market here on 3 March, on persistent safe-haven buying from investors in view of rising trend in global markets.
Silver also opened higher at Rs24,515 per kg in line with gold prices.
Some of the investors shifted their funds from equity market to bullion as safe-haven investment, a trader said.
Continuing economic concerns, a US dollar near record lows and weaker equities boosted gold futures on Friday in New York, he added.
Turning to local market, standard gold (99.5 purity) rose by Rs190 per ten grams to Rs12,755 from Rs12,565 on Saturday and pure gold (99.9 purity) also moved up to Rs12,810 from Rs12,620.
Silver ready (.999 fineness) also hardened to Rs24,515 from Rs24,020.
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First Published: Mon, Mar 03 2008. 02 14 PM IST
More Topics: Bullion | Gold | Silver | Stocks | US economy |