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Gold, silver prices skyrocket to all-time high

January 05, 2004 18:47 IST

Both the precious metals, gold and silver, ounce again broke all previous records and ended at all-time high of Rs 6,270 per 10 gram and Rs 9,605 per kilo, respectively on the bullion market in Mumbai on Monday due to fresh bouts of stockists' buying along with poor arrival after firm overseas advices.

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In Asia, gold had broken the 14-year record and touched $418 per ounce during trading on heavy Japanese buying, while in London, it was fixed firm at $417.75 per ounce in the morning, dealers said.

In the local market, pure gold (99.9 purity) opened firm at Rs 6,260 and rose further on increased offtake, before closing at Rs 6,270, showing a smart gain of Rs 25 over the last weekend close of Rs 6,245.

Standard gold (99.5 purity) also started higher at Rs 6,220 and after rising further in line with pure gold, ended at Rs 6,230, also showing a gain of Rs 25 over the previous close of Rs 6,205.

Similarly, ready silver (.999 fineness) resumed on a firm note at Rs 9,560 and continued to rise on increased industrial and stockists' buying and after crossing the Rs 9600-mark for the first time in history, closed at Rs 9,605, revealing a smart recovery of Rs 60 over the last close of Rs 9,545.

Following are today's closing rates with previous rates in brackets.

Ready silver .999 (per kilo) Rs 9605 (Rs 9545), pure gold 99.9 (ten gram) Rs 6270 (Rs 6245) and standard gold 99.5 (ten gram) Rs 6230 (Rs 6205).


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