Saturday, October 24, 2009

Gold up by Rs 55; Silver ready surges by Rs 200

Gold prices today rose by Rs 55 to Rs 16,230 per 10 gram in the bullion market here on heavy buying by stockists and investors in line with firming global cues.Meanwhile, silver ready spurted by Rs 200 at Rs 27,550 per kg and weekly-based delivery by Rs 140 to Rs 27,440 per kg.Marketmen said the yellow metal rose to near record level in the domestic market as investors were seen shifting funds from melting equities to rising bullion, considering it a safe haven to park their money.The demand for the precious metal also picked up on heavy buying by retail customers for the ongoing marriage season.Besides, they said, the precious metal, which moves in tandem with the global market, rose as gold recorded handsome gains overseas. -PTI

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