Gold surged 240 rupees, to a ten-week high of 23,050 rupees per ten grams at Delhi's bullion market, on Wednesday, on increased buying by stockists and investors, driven by a firm overseas trend. Silver spurted 1,800 rupees, to 55,000 rupees per kilo, on increased offtake by industrial and coin manufacturing units. Silver coins shot up 2,000 rupees, to 62,000 rupees for buying 100 pieces.Trading sentiment turned bullish as gold jumped almost 13 dollars, to 1,568 dollars an ounce in the global markets. Gold rallied as concerns that the escalating debt crisis in Europe may slow down global economic growth boosted the precious metal's demand as an alternative investment. Silver rose one per cent, to 36.46 dollars an ounce.
News On AIR | July 13, 2011 7:07 PM
Gold surge by Rs 240 to ten-week high