Gold price surges to scale 10-week highs; silver also spurts

Nov 23 2012, 19:42 IST
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Gold price surges to scale 10-week highs; silver also spurts (Agencies) Gold price surges to scale 10-week highs; silver also spurts (Agencies)
SummaryPure gold (99.9 purity) also rose by Rs 240 per 10 grams to conclude at Rs 32,290 from Rs 32,050.

Gold spurted to regain Rs 32,000 per 10 gram-level and hit nearly 10-week highs at the domestic bullion market today on sustained off-take from stockists and investors triggered by encouraging global cues.

Silver also zoomed to revisit Rs 63,000 per kg level on hectic speculative demand amid good industrial buying.

"Expectations of marriage seasonal buying also supported the prices," dealers said.

Standard gold (99.5 purity) climbed up by Rs 240 per 10 grams to end at Rs 32,150 from Thursday's closing level of Rs 31,910.

Pure gold (99.9 purity) also rose by Rs 240 per 10 grams to conclude at Rs 32,290 from Rs 32,050.

Silver ready (.999 fineness) rallied by Rs 520 per kg to finish at Rs 63,190 as compared to Rs 62,670 yesterday.

In Europe, gold prices sprinted on firm euro amid positive German economic data and hopes of deal by Greece's creditors to tackle its debt crisis.

Spot gold was bid up at USD 1,734.26 an ounce in early trade, while silver was also bid higher at USD 33.46 an ounce.

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