Gold crosses 15K-level at opening after 3-1/2 months

Gold crosses 15K-level at opening after 3-1/2 months
PTI
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First Published: Thu, Jul 23 2009. 03 36 PM IST
Updated: Thu, Jul 23 2009. 03 36 PM IST
Mumbai: Gold prices crossed 15-K level after a gap of 3-1/2 months on the bullion market in early trade on good demand from stockists triggered by overnight rise in New York market.
Silver also rallied smartly on renewed industrial demand.
Standard gold (99.5 purity) resumed higher by Rs80 per ten grams to a 3-1/2 months high at Rs15,015 as against Wednesday’s closing level of Rs14,935. The level was not seen since 2 April 2009, when it was quoted at Rs15,080.
Pure gold (99.9 purity) also opened higher by Rs85 per ten grams to Rs15,090 from the overnight closing level of Rs15,005.
Silver ready (.999 fineness) also shot up by Rs245 per kilo to Rs22,750 from Rs 22,505 Wednesday.
Gold futures rose to a six-week high in New York, tracking the equities action on Wall Street, where investors considered better-than-expected corporate earnings and another round of testimony on Capitol Hill by Federal Reserve chief Ben Bernanke.
Gold for August delivery rose by $6.40 an ounce to end at $953.30 on the Comex Division of the New York Mercantile Exchange.
Silver for September delivery also rose by 23 cents to $13.70 an ounce.
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First Published: Thu, Jul 23 2009. 03 36 PM IST
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