Gold prices continue to rule firm

Thu, May 8 08:40 PM

Mumbai, May 8 (PTI) Notwithstanding both the lower demand of both the precious metals in the overseas market, buying by domestic investors as well as stockists on the festive day of "Akshay Tritiya" lifted the gold and silver prices on the local bullion market here today by Rs 95 per 10 grams and Rs 100 per kg respectively. Discounting reports of a steep fall in gold prices in the overseas markets, which normally set price band in domestic markets, retail investors, according to their regular custom, bought yellow metal on the auspicious day, dealers said.

In the US markets, gold prices plunged nearly 12 dollar an ounce to 855 dollar an ounce on firming dollar against leading currencies and crude oil rising to records. In the domestic market, standard gold (99.5 purity) firmed up by Rs 95 per 10 grams to Rs 11,750 from Rs 11,655.

Pure gold (99.9 purity) also looked up by Rs 90 per 10 grams to Rs 11,805 from Rs 11,715. Silver ready (.

999 fineness) also hardened by Rs 100 per kg to Rs 23,120 from Rs 23,020 previously. PTI.

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