Friday, May 15, 2009

Gold Nearing 15,000 Mark On Strong Buying - May 15, 2009

The gold prices on Wednesday closed in on the crucial Rs 15,000-mark by gaining Rs 140 per 10 gram in the bullion market in New Delhi due to hectic buying by stockists as well as jewellery fabricators amid firming global trends. The gold surged Rs 140 at Rs 14,970 per 10 gram while the silver prices shot up Rs 300 at Rs 22,600 a kg.

The marketmen said that the repots of gold rising in London to six week high also boosted he sentiments. The metal gained in London after the US dollar declined, spurring demand for gold as a hedge against inflation.

The standard gold and ornaments shot up Rs 140 each to Rs 14,970 and Rs 14,820 per 10 gram respectively and sovereign grew by Rs 150 to Rs 12,350 per piece of 8 gram.

On the other hand, the silver ready inched up by Rs 300 to Rs 22,600 per kg and weekly-based delivery by Rs 560 to Rs 23,150 per kg respectively. The silver coins also gained Rs 100 to Rs 29,100 for buying while Rs 29,200 for selling of 100 pieces.

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