Gold Prices
Oct 27th, 2007 by admin
Gold prices rallied by Rs 100 per ten grams to resume at a fresh 17-month high of Rs 10,040 due to hectic buying by stockists as well as jewellery fabricators to meet the festival demand. The high prices were also due to positive advices from global markets.
Stockists indulged in enlarging their positions ahead of the festivals like Diwali and marriage season pushed up the gold prices. Silver attracted brisk buying from industrial users. Standard gold (99.5 purity) resumed higher by Rs 100 per ten grams to Rs 10,040 as against Rs 9,940 on Friday. Gold surpassed its previous 17-month high of Rs 9,940 registered on Friday. It had closed at Rs 10,110 on May 19, 2006. Pure gold (99.9 purity) also opened higher at Rs 10,095 as against Rs 9,990 on Friday.
Silver ready (.999 fineness) shot up by Rs 210 per kg to Rs 18,970 from Rs 18,760 on Friday.