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At Rs 6,125, gold scales historic high
December 09, 2003 18:25 IST
Gold prices shot up further to close at another historic high of Rs 6,125 per ten gram on the bullion market on Tuesday due to persistent heavy buying.
The metal attracted increased stockists' buying, in line with firm overseas advices where gold found safe-haven investment support after a further sharp fall in US dollar.
Dealers attributed the rise also to poor supply at the prevailing high level along with good seasonal buying.
Silver also shot up in line with gold coupled with smart rise in London prices.
Pure gold (99.9 purity) started the day on a steady note at Rs 6,115 and later, found heavy buying support and firmed up to end at Rs 6,125, showing a gain of Rs 10 over Monday's close of Rs 6,115.
Similarly, standard gold (99.5 purity) after a steady start at Rs 6,075, recovered to end at Rs 6,085, revealing a similar gain over the previous close of Rs 6,075.
In Hong Kong, gold shot up to close at $408.00-408.50 an ounce against the previous close of $407.00-407.50 and in London, it fixed firm at $408.25 an ounce from $406.15.
Ready silver (.999 fineness) also resumed sharply higher at Rs 8,930. However, it moved narrowly thereafter and closed at the same level, still showing a good gain of Rs 40 over the last close of Rs 8,890.
Following are Tuesday's closing rates with previous rates in brackets.
Ready silver .999 (per kilo) Rs 8,930 (Rs 8,890), pure gold 99.9 (ten gram) Rs 6,125 (Rs 6,115) and standard gold 99.5 (ten gram) Rs 6,085 (Rs 6,075).