The gold prices on Wednesday recovered by Rs 155 to Rs 13,465 per 10 gram in the bullion market here by snapping a four-day losing streak, as the traders and investors shifted their funds to bullion from the melting stock markets.
Gold, which had lost Rs 340 per 10 gram in the last four sessions, bounced back on revival of buying in line with a firm trend in the US markets last night. The gold in American markets grew to 865 dollar an ounce from 844 dollar.
The Sensex on Wednesday lost 749 points on panic selling after Satyam Computer said profit had been inflated for years, raising the concerns of dim third-quarter earnings by blue-chip companies.
The Standard gold and ornaments grew by Rs 155 each to Rs 13,465 and Rs 13,315 per 10 gram, respectively. On the other hand, the sovereign gained Rs 25 to Rs 10,750 per piece of eight gram. Similarly, the silver recorded a gain of Rs 210 at Rs 18,400 per kg and weekly-based delivery by Rs 260 to Rs 18,410 per kg. In line with this, the silver coins also traded higher by Rs 100 to Rs 27,000 for buying and Rs 27,100 for selling of 100 pieces.
Gold, which had lost Rs 340 per 10 gram in the last four sessions, bounced back on revival of buying in line with a firm trend in the US markets last night. The gold in American markets grew to 865 dollar an ounce from 844 dollar.
The Sensex on Wednesday lost 749 points on panic selling after Satyam Computer said profit had been inflated for years, raising the concerns of dim third-quarter earnings by blue-chip companies.
The Standard gold and ornaments grew by Rs 155 each to Rs 13,465 and Rs 13,315 per 10 gram, respectively. On the other hand, the sovereign gained Rs 25 to Rs 10,750 per piece of eight gram. Similarly, the silver recorded a gain of Rs 210 at Rs 18,400 per kg and weekly-based delivery by Rs 260 to Rs 18,410 per kg. In line with this, the silver coins also traded higher by Rs 100 to Rs 27,000 for buying and Rs 27,100 for selling of 100 pieces.
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