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Rediff.com  » Business » Gold glitters, hits a record high at Rs 23,470!

Gold glitters, hits a record high at Rs 23,470!

Last updated on: July 19, 2011 15:32 IST

Gold glitters, hits a record high at Rs 23,470!

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Taking positive cues from the global markets, gold added Rs 200 to touch a new peak of Rs 23,470 per 10 grams today on heavy buying by stockists and investors.

The yellow metal crossed its last record level of Rs 23,270 set on July 16.

Similarly, silver maintained its upward journey for the third consecutive day by adding Rs 1,500 to Rs 59,500 per kg, on increased offtake by industrial units and coin makers.

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Image: A gold crystal.

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Gold glitters, hits a record high at Rs 23,470!

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Silver coins also followed suit and spurted by Rs 2,000 to Rs 65,000 for buying and Rs 66,000 for selling of 100 pieces.

Trading sentiments bolstered as gold crossed the $1600 an ounce level overseas for the first time on concerns about US and Europe debt crisis.

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Gold glitters, hits a record high at Rs 23,470!

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Gold shot up by $11 to $1,605.10 an ounce, while silver added 3.26 per cent to $40.55 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity zoomed up by Rs 200 each to a fresh high of Rs 23,470 and Rs 23,350 per 10 grams, respectively.

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Image: An 18-karat solid gold Monopoly set covered with hundreds of precious gemstones.
Photographs: Shannon Stapleton/Reuters
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Gold glitters, hits a record high at Rs 23,470!

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Sovereigns followed suit and rose by Rs 50 to a record high of Rs 18,900 per piece of eight grams.

Silver ready moved further up by adding Rs 1,500 to Rs 59,500 per kg. It has gained Rs 1,500 in last two trading sessions.

Silver weekly-based delivery also shot up by Rs 1,245 to Rs 60,600 per kg.


Image: Gold bars.

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