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All-time high in Mumbai

MUMBAI JAN. 17.

The fear of war between Iraq and the U.S. continued to influence the bullion market here today as gold prices zoomed to touch an all-time high of Rs. 5,760 per ten grams, surpassing the previous high of Rs. 5730 recorded on January 6 on heavy speculative buying.

Standard gold resumed the day on a firm note at Rs. 5,725 and shot up further on heavy buying by stockists as well as speculators and closed at an all-time high of Rs. 5670, showing a steep rally of Rs. 80 over yesterday's close of Rs. 5,680.

Ten-tola gold bar (.999 purity) also started strong at Rs. 67,150 and rallied further in line with standard gold and closed at Rs. 67,500, revealing a whopping gain of Rs. 900 over yesterday's close of Rs. 66,600.

The sharp rally in gold also boosted sentiment in silver as ready silver (.999 fineness), after a sharply higher start at Rs. 8175, shot up further on heavy stockists' buying and closed at Rs. 8,200, revealing a notable gain of Rs. 70 over the previous close of Rs. 8,130.

— PTI

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