Gold prices on May 21 gained Rs 180 to 12,860 per 10 gram in the bullion market in Mumbai, recording a 10-week high on brisk buying by stockists influenced by a firming global trend. Standard gold and ornaments moved up by Rs 180 each to Rs 12,860 and Rs 12,710 per 10 gram respectively. Sovereign also rose by Rs 75 to Rs 12,050 per piece of eight gram.
A similar firm trend was noticed in silver as it spurted by Rs 680 to Rs 24,860 after the metal in other Asian markets moved up on rising crude oil prices and weakening dollar against the leading currencies led by Euro.Silver ready spurted by Rs 650 to Rs 24,680 per kg and weekly-based delivery by Rs 690 to Rs 24,390 per kg. Silver coins jumped up by Rs 200 at Rs, 27,000 for buying and Rs 27,100 for selling of 100 pieces.
Crude oil futures rose to reach a record of $129.60 a barrel and dollar fell against the euro, touching 1.5686, the weakest since April 28. A recent reports by the World Gold Council has said that the gold demand dropped to a five-year low in the first quarter as record prices and a slowing US economy reduced purchases in every application for the metal except investment funds.
A similar firm trend was noticed in silver as it spurted by Rs 680 to Rs 24,860 after the metal in other Asian markets moved up on rising crude oil prices and weakening dollar against the leading currencies led by Euro.Silver ready spurted by Rs 650 to Rs 24,680 per kg and weekly-based delivery by Rs 690 to Rs 24,390 per kg. Silver coins jumped up by Rs 200 at Rs, 27,000 for buying and Rs 27,100 for selling of 100 pieces.
Crude oil futures rose to reach a record of $129.60 a barrel and dollar fell against the euro, touching 1.5686, the weakest since April 28. A recent reports by the World Gold Council has said that the gold demand dropped to a five-year low in the first quarter as record prices and a slowing US economy reduced purchases in every application for the metal except investment funds.
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