Gold soars by Rs 1,045 during the week

Mumbai, Nov 22 (UNI) Gold surged by Rs 1,045 per ten gm on the bullion market during the week.

An upward trend was seen in the yellow metal throughout the week. On Monday, gold improved by Rs 10 to close at Rs 11,960 which was the lowest figure of the week. During the next two days, it rose by Rs 25 and Rs 30 rspectively on improved demand from ornament makers.

On Thursday and Friday, the rally continued and it ended up by Rs 315 to close at Rs 12,330 yesterday.

Today, both standard and pure gold closed at Rs 12,995 and Rs 13,060, with a massive gain of Rs 1,045 and Rs 1,050 per ten gm respectively, than their last week's close.

The yellow metal recorded the highest of Rs 12,995 on November 22, while its lowest was Rs 11,960 on November 17, during the week.

In London, gold was recorded at USD 757.00/757.50 per troy ounce during the week ended November 21, as compared to the previous week's close of USD 736.00/736.50.

About white metal, silver fell marginally by Rs 60 per kg during the week due to fluctuation.

On Monday, it rose by Rs 40 per kg to end at Rs 16,875. Next day, it fell by Rs 180 due to lower buying support from jewellery makers. On Wednesday, it recovered by Rs 105 to end at Rs 16,800 on improved demand from local dealers.

During the next two days, silver lost its ground by Rs 320 per kg. On Friday, the white metal finished at Rs 16,480 amid sluggish demand from ornament makers along with discouraging global advices.

Today, it settled at Rs 16,775 with a loss of Rs 60 from its last week's close.

Silver recorded the highest of Rs 16,875 on November 17, while the lowest was Rs 16,480 on November 21, during the week.

In London, silver was recorded low at USD 09.35/09.36 per troy ounce during the week ended November 21, as compared to the previous weekend's close of USD 09.39/09.40 per troy ounce.

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