Pure gold zooms to all-time high

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Mumbai, Mar 13 (UNI) Pure gold today surged to an all time high of Rs 13,025 per ten gm and Silver scaled a new peak of Rs 24,980 per kg on renewed demand from stockists on strong global cues, traders at the Bombay Bullion Association (BBA) said.

The yellow metal rose by Rs 240 per ten gm and Silver jumped up by Rs 480 per kg.

Oil prices moved above USD 110 a barrel and the dollar dropped against major currencies and this helped value of gold and silver to scale new records, traders added.

Standard gold (99.5 purity) opened high at Rs 12,880 per ten gm and pure gold (99.9 variety) at Rs 12,935 per ten gm on renewed demand.

Later, standard and pure gold inched up to close at Rs 12,965 and Rs 13,025 respectively, with a smart gain of Rs 240 for standard and pure gold each from their previous finish.

Silver (.999 fineness) variety resumed upward at Rs 24,920 per kg on fresh demand. Later, it further rose and closed at Rs 24,980, gaining Rs 480 per kg from its previous close.

Traders received reports from London and other Asian markets that the yellow metal was quoted around USD 993.50/994.50 per troy ounce from its previous close, while the white metal was at USD 20.50/20.55 from its last close, dealers added.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 24,980 (24,500) Gold (per 10 gm): Standard mint 99.5 purity: Rs 12,965 (12,725) Pure gold 99.9 purity: Rs 13,025 (12,785).

UNI NV OBB AG1850

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