Thursday, April 9, 2009

Old Prices Soared By Rs 315 On Firming Overseas Trend - April 09, 2009

The gold prices soared by Rs 315 to Rs 14,735 per 10 gram in the national capital on Thursday due to buying by stockists for the current marriage season and firming overseas trend. On the other hand, silver eased by Rs 20 to Rs 20,930 per kg. The buying activity picked up as some investors shifted their funds from volatile stock markets to bullion as safe haven.

The gold in London gained $7.91, or 0.9 per cent to $89.15 an ounce as compared to $876 in the previous session. The Standard gold and ornaments shot up by Rs 315 each to Rs 14,735 and Rs 14,585 per 10 gram, respectively.

Simultaneously the Sovereign prices increased by Rs 200 to Rs 12,300 per piece of eight gram. However, the silver ready eased by Rs 20 to Rs 20,930 per kg and weekly-based delivery by Rs 110 to Rs 20,670 per kg on the lack of support from speculators. However, the silver coins reported Rs 27,800 for buying while Rs 27,900 for selling of 100 pieces.

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