Thursday, December 18, 2008

Silver Also Rose Above 11.20 Dollar An Gold Further - Dec 18, 2008

New Delhi: In the bullion market here, the gold prices on Dec 17 rose by Rs 20 at Rs 13,110 per ten gram due to sustained buying influenced by firming overseas trend. Marketmen said the precious metal received a boost on firming overseas bullion markets.While, the demand for silver was up from jewelers and gift items manufacturers to meet demand for Christmas and New Year.

The buying activity also picked up backed by the reports of precious metal in global markets surging for the seventh straight day in the US last night to trade at 859.95 dollar an ounce, the most since Oct 13.The silver also rose above 11.20 dollar an ounce.

Standard gold and ornaments grew by Rs 20 each at Rs 13,110 and Rs 12,960 per ten gram respectively. The silver ready spurted by Rs 350 at Rs 17,600 per kg and weekly-based delivery by Rs 415 at Rs 17,815 per kg. The silver coins rose by Rs 100 at Rs 26,900 for buying and Rs 27,000 for selling of 100 pieces.

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