Gold prices climb by Rs.200 on rising demand

Mumbai, 28 Sep, 2013: Gold today extended rally at the domestic bullion market on the back of heavy buying from stockists and retail customers amid robust investment offtake. 

Silver also surged owing to sustained speculative demand as well as industrial support. 

Standard gold of 99.5 per cent purity climbed by Rs 200 to finish at Rs 30,465 per 10 gm from Friday's closing level of Rs 30,265. 

Pure gold of 99.9 per cent purity rose by Rs 195 to close at Rs 30,610 per 10 gm from Rs 30,415. 

Silver ready (.999 fineness) jumped Rs 430 to conclude at Rs 50,730 per kg as compared to Rs 50,300 previously. 

Globally, the yellow metal rebounded sharply on safe haven demand as US budget concerns amid ongoing uncertainty over Fed tapering its stimulus measures weighed heavily on investor sentiment. 

December gold shot up $15.10 to settle at $1,339.20 an ounce at the Comex division of the NYMEX late yesterday and silver December contract gained by $21.83 an ounce.

Courtesy: The Economic Times