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Gold rises by Rs10; silver gains Rs50

Gold rises by Rs10; silver gains Rs50
PTI
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First Published: Mon, Apr 20 2009. 03 58 PM IST
Updated: Mon, Apr 20 2009. 03 58 PM IST
New Delhi: Gold prices on Monday recovered by Rs10 to Rs14,300 per 10 gram in the bullion market here on local buying amid better trend in the global market.
Silver also regained strength and recorded a gain of Rs50 at 20,400 per kg on increased offtake by industrial units.
Marketmen said fresh buying by local parties at the existing lower levels amid reports of a better trend in the overseas market mainly helped gold prices to recover marginally.
They said the precious metal gained $1.55 to $870.35 dollar an ounce in London on speculation that the falling stock markets may revive demand for the gold as a haven.
Standard gold and ornaments recovered by Rs10 each to Rs14,300 and Rs14,150 per 10 gram, respectively and sovereign gained Rs50 to Rs12,300 per piece of eight gram.
In a similar fashion, silver ready rose by Rs50 to Rs20,400 per kg and weekly-based delivery by Rs30 to Rs19,900 per kg. Silver coins held steady at Rs27,800 for selling of 100 pieces.
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First Published: Mon, Apr 20 2009. 03 58 PM IST
More Topics: Futures | Gold | Commodity | Bullion | Stocks |