Falling dollar demand against euro and rising crude oil prices pushed up demand of the silver and gold in the bullion market in New Delhi on April 23 to Rs 23,450 and Rs 112,080 respectively. Both the precious metals, silver and gold, rose on emergence of buying by stockists and jewellery fabricators on reports of a firm trend in the overseas market, traders said. Buying activity of gold was also boosted by the ongoing marriage season on reports of the precious metal rising in London. Gold rose following weakening of dollar against euro, which enhanced its demand as a safe haven for investors. Reports that it might continue to rise for next six years, as per a London-based bullion analyst company, also influenced trading sentiment. Standard gold and ornaments rose by Rs 80 each at Rs 12,080 and Rs 11,930 per 10 gram respectively. Sovereign, on the other hand, fell by Rs 25 at Rs 9850 per piece of eight gram on reduced offtake.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment