Tuesday, July 7, 2009

Gold Looks Up And About On Hike In Import Duty - July 07, 2009

The gold prices recovered on the bullion market on Monday due to fresh local demand. Along with this, the silver also firmed up further owing to persistent demand from industrial users. The customs duty on silver has also been increased to Rs. 1,000 a kg from Rs. 500. In the domestic market, the standard gold (99.5 purity) shot up by Rs. 80 (10 gram) to Rs. 14,535 from previous weekend''s level of Rs. 14,455.

In line with this, the pure gold (99.9 purity) also firmed up with a similar margin to Rs. 14,605 from Rs. 14,525.

The silver ready (.999 fineness) hardened by Rs. 120 to Rs. 22,120 from Rs. 22,000 a kg previously.

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