Bullion Report: Gold spurts on global advice
Wednesday, January 19, 2000
NEW DELHI: Gold prices spurted on the bullion market today on increased buying by stockists mainly attributed to a smart rise in its prices in the international markets and captured notable gains. Silver, in thin trade, hovered around the previous level on scattered support and finished slightly higher while its coins held unchanged, reports PTI.
Marketmen said remarkable gains in the Asian markets where gold traded at 289.75 U.S. dollar an ounce against yesterday's level of 285.95 U.S. dollar, enthused the trading sentiment in the domestic markets. They said most of the traders except the Bank of England gold auction next week might be matching their expectations and "if so, the prices might go sharply higher".
Likewise, the trend in the upcountry markets also influenced the market sentiment to some extent. The volume of business was better.
Standard gold and ornaments shot up by Rs.60 each at Rs.4550 and Rs.4400 per ten gram respectively. Sovereign also moved up by Rs.25 at Rs.3850 per piece of eight gram. Silver .999 (ready) was better by Rs.5 at Rs.7870 per kilo and weekly delivery by a same margin at Rs.7890 per kilo. Silver coins were unchanged at Rs.10,800/11,000 per 100 pieces.
The following were today's quotations:
Silver .999 (ready) 7870 and delivery 7890. Silver coins buyer 10,800 and seller 11,000.
Standard gold 4550, ornaments 4400 and sovereign 3850.
expressindia.com |
