Gold 3-week high crosses Rs 29k mark
The Dollar Business Bureau Amidst positive global signs and a stable demand from stockists, the prices of gold have surged further and hit the Rs 29,000-mark at the national market on Tuesday. Standard gold (with 99.5 purity) jumped by Rs.175 to close at Rs.29,155 per 10 grams from Rs.28,980 of Monday's level. Pure gold (with 99.9 purity) also increased by the same margin to end at Rs 29,305 per 10 grams from Rs.29,130. In the international market, the metal rose to $1,262.79 an ounce on Tuesday, a 3-week high price, since March 18, as investors scaled back expectations on the increase in interest-rates by the US Federal Reserve, lowering the dollar. Gold for immediate delivery rose by 0.2 percent to $1,259.40 an ounce at ...
Gold remains weak on sluggish demand from jewellers
Source: PTI Tepid demand from jewellers and retailers following end of wedding season mainly kept pressure on gold prices but a better trend overseas as a drop in the dollar boosted appeal of the metal, capped the losses. Continuing its slide for the second straight day, gold prices fell by Rs.60 to Rs.25,550 per ten grams at the bullion market on Thursday, largely dragged down by fall in demand from jewellers as well as retailers, even as the metal strengthened overseas. However, silver firmed up by Rs.200 to Rs.34,300 per kg on increased offtake by industrial units and coin makers. Marketmen said tepid demand from jewellers and retailers following end of wedding season mainly kept pressure on gold ...
