Gold zooms to fresh highs, silver rallies

Mumbai, Aug 19: Gold prices, maintaining its record breaking momentum, climbed to fresh highs at the domestic bullion market here on Thursday on sustained buying from investors and traders fuelled by bullish global cues.

Silver also continued to gain heavily on speculative build up amidst rising industrial demand. On the global front, gold surged towards record highs on continuing worries over eurozone debt crisis amidst growth slowdown concerns.

Standard gold (99.5 purity) galloped by Rs 395 per 10 grams to finish at Rs 26,790 from Wednesday's closing level of Rs 26,395.

Pure gold (99.9 purity) also jumped by a similar margin of Rs 395 per 10 grams to close at Rs 26,915 as against Rs 26,520 previously.

Silver ready (.999 fineness) rose by Rs 455 per kilo to end at Rs 61,545 from Rs 61,090. In Europe, spot gold was bid at USD 1,808.20 an ounce in early trade, while silver was bid at USD 40.38 an ounce.

PTI