Gold crosses Rs13K mark at opening trade

Gold crosses Rs13K mark at opening trade
PTI
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First Published: Fri, Mar 14 2008. 06 26 PM IST
Updated: Fri, Mar 14 2008. 06 26 PM IST
Mumbai: Gold prices crossed Rs13,000 per ten grams for the first time in the history of the bullion market here on 14 March on persistent stockists buying triggered by higher global advices.
Silver also resumed at an all-time peak in line with gold prices.
Despite US Federal Reserve’s bailout package of $200 billion, the share markets later displayed a distinctly weak trend forcing stockists and investors to go for these safe-haven assets.
Standard gold (99.5 purity) opened higher by Rs70 per ten grams to Rs13,035 from the last close of Rs12,965.
Pure gold (99.9 purity) also moved up to Rs13,095 from Rs13,025.
Silver ready (.999 fineness) also firmed up to Rs25,170 from Rs24,980 previously.
In New York, gold futures pushed past $1,000 an ounce on Thursday as the dollar continued to wane amid economic concerns.
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First Published: Fri, Mar 14 2008. 06 26 PM IST
More Topics: Bullion | gold | silver | stock market | Money Matters |