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Gold prices reach all-time high of Rs.32,950

The previous record of gold price was Rs.32,900, set on 14 September
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First Published: Mon, Nov 26 2012. 06 25 PM IST
Traders said gold sentiment turned bullish on rising wedding season demand and a weak rupee against the US dollar. Photo: Hindustan Times
Traders said gold sentiment turned bullish on rising wedding season demand and a weak rupee against the US dollar. Photo: Hindustan Times
New Delhi: Gold prices on Monday surged by Rs.100 to all-time high of Rs.32,950 per 10 grams in the national capital on sustained demand from stockists and retailers to meet the rising requirements during the ongoing wedding season. The previous record of gold price was Rs.32,900, set on 14 September. Silver also rose by Rs.200 to Rs. 63,200 per kg on increased offtake by industrial units.
Traders said gold sentiment turned bullish on rising wedding season demand and a weak rupee against the US dollar. Continuing its decline against the American currency for the fifth day, the rupee in the opening session declined to 55.61 a dollar due to persistent dollar demand from banks and importers. On the domestic front, gold of 99.9 and 99.5 per cent purity added Rs.100 each to Rs.32,950 and Rs.32,750 per 10 grams, respectively, a level never seen before.
The yellow metal had gained Rs.450 in the last three sessions. Meanwhile, sovereigns held steady at Rs.25,650 per piece of eight grams. Similarly, silver ready strengthened by Rs.200 to Rs.63,200 per kg and weekly-based delivery by Rs.340 to Rs.63,860 per kg, respectively. Silver coins continued to be asked around previous level of Rs.81,000 for buying and Rs.82,000 for selling of 100 pieces.
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First Published: Mon, Nov 26 2012. 06 25 PM IST
More Topics: Gold | silver | rupee | dollar demand |
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