Monday, March 3, 2008

Gold touches new peak

MUMBAI: Gold prices touched the record level of Rs 12,755 per 10 grams in the bullion market here on Monday on persistent safe-haven buying from investors in view of rising trend in global markets.

Silver also opened higher at Rs 24,515 per kg in line with gold prices. Some of the investors shifted their funds from equity market to bullion as safe-haven investment, a trader said.

Continuing economic concerns, a US dollar near record lows and weaker equities boosted gold futures on Friday in New York, he added. Turning to local market, standard gold (99.5 purity) rose by Rs 190 per ten grams to Rs 12,755 from Rs 12,565 on Saturda y and pure gold (99.9 purity) also moved up to Rs 12,810 from Rs 12,620. Silver ready (.999 fineness) also hardened to Rs 24,515 from Rs 24,020. - PTI

No comments: