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Gold strengthens on higher domestic demand

Gold strengthens on higher domestic demand
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First Published: Thu, Aug 30 2007. 04 08 PM IST
Updated: Thu, Aug 30 2007. 04 08 PM IST
PTI
New Delhi: Gold prices strengthened on the bullion market on 30 August on increased demand from local parties and closed with moderate gain of Rs10 at Rs9,010 per 10 grams, despite a weak global trend.
Silver also regained strengh on revival of buying at lower level and recovered smartly.
Marketmen said increased local demand against tight arrivals helped gold prices to strengthen.
They said buying activity picked up and discounted reports of a weakening global trend, which normally set price- bands in domestic market here.
Standard gold and ornaments remained in demand and advanced further by Rs 10 each at Rs9,010 and Rs8,860 per 10 grams respectively. Sovereign, however, ruled flat at Rs7,625 per piece of eight gram.
Silver ready also recovered by Rs50 at Rs16,600 per kilo and weekly-based delivery by Rs100 at Rs16,400 per kilo. Silver coins gained Rs100 at Rs23,400 for buying and Rs23,500 for selling of 100 pieces.
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First Published: Thu, Aug 30 2007. 04 08 PM IST