Gold price continued its record journey as the metal scaled to an all-time high of Rs. 16,900 per 10 gram on the bullion market here on Saturday, sparked by aggressive buying from stockists and traders following a sharp rally in the international markets, while, silver declined due to lack of industrial demand.

In the domestic market, standard gold (99.5 purity) firmed up by Rs. 60 ten gram to close at Rs. 16,665 against Friday’s closing of Rs. 16,605. Pure gold (99.9 purity) also rose by Rs. 55 per ten gram to end at Rs. 16,745 against Rs. 16,690.

However, silver ready (.999 fineness) fell by Rs. 40 a kg to finish against Rs. 27,705 against Rs. 27,745.

In overseas markets, gold spurted to a record high of $1,100 an ounce as US job data showed unemployment topped 10.2 per cent in October, lifted expectations that Federal Reserve will have to maintain its low interest regime. December delivery gained by $6.40 to $1,095.70 an ounce. Silver for December delivery fell by 3 cents to $17.38 an ounce.

Keywords: Goldmarketseconomy


Gold zooms past Rs 17,000 on global cuesNovember 12, 2009

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