Gold touches new peak at Rs13,050

Gold touches new peak at Rs13,050
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First Published: Thu, Mar 06 2008. 05 13 PM IST
Updated: Thu, Mar 06 2008. 05 13 PM IST
PTI
New Delhi: Gold prices zoomed past all previous records to set a new peak at Rs13,050 per 10 gram in the bullion market here on 6 March, on emergence of buying sparked by reports that the metal touched all-time high level in London.
Buying activity gathered momentum on reports the yellow metal rose in London to $995, a level never seen before, as dollar plunged to record low levels and crude oil climbed to record high near 105 dollar a barrel, boosting demand as a safe haven.
Standard gold and ornaments, which lost Rs200 each yesterday, shot up by Rs400 each to Rs13,050 and Rs12,900 per 10 grams respectively.
Sovereign followed suit and traded at Rs10,050 by gaining Rs75 per piece of eight gram.
Silver joined the rally as its prices in overseas markets touched over 27-year high. Silver ready surged by Rs1,200 at new high levels of Rs25,000 per kg and weekly-based delivery by Rs1,355 at record at Rs 26,400 per kg.
Silver coins also shot up by Rs 200 to Rs 26,900 for buying and Rs 27,000 for selling of 100 coins.
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First Published: Thu, Mar 06 2008. 05 13 PM IST
More Topics: Bullion | Gold | Silver | Sovereign | Money Matters |