 "Gold jumps 1.5% in early London trade")
Gold jumped 1.5% or $18 in early afternoon London trade as traders sought refuge in bullion after crude oil price hit five year low.
Spot gold hit $1,220 an oz level before profit booking pulled it down to $1,216.7 an oz. Silver followed suit and traded at $16.74 an oz, a rise of $0.38 or 2.33% from previous close.
Standard gold closed with a gain of Rs 200 to Rs 26,700 per 10 gms and silver shot up by Rs 750 to Rs 37,450 a kg in Mumbai’s popular Zaveri Bazaar.
Brent crude was reported trading last at $66.85 a barrel after starting the year at $110 a barrel. WTI also fell to trade currently at $63 a barrel, a steep decline from $98 a barrel early this year.
Spot gold hit $1,220 an oz level before profit booking pulled it down to $1,216.7 an oz. Silver followed suit and traded at $16.74 an oz, a rise of $0.38 or 2.33% from previous close.
Standard gold closed with a gain of Rs 200 to Rs 26,700 per 10 gms and silver shot up by Rs 750 to Rs 37,450 a kg in Mumbai’s popular Zaveri Bazaar.
Brent crude was reported trading last at $66.85 a barrel after starting the year at $110 a barrel. WTI also fell to trade currently at $63 a barrel, a steep decline from $98 a barrel early this year.