Rally continues

DOMESTIC REVIEW/ BULLION

Gold and silver remained buoyant for the second week in a row with the US dollar remaining weak.

Silver prices rose by a margin that was higher than the gains made by gold.

Overseas, silver spot prices rose to $7.35 from $7.22.

New York Mercantile Exchange Comex April gold rose to $429.20 per troy ounce to $424.80.

Spot London gold closed the week at higher $426.25 from $418.85 last week, with no clear direction for the market.

The week ended February 19 saw gold prices rising in India. The Mumbai market was closed on Saturday on account of Shivaji Jayanti.

Spot gold (99.50 purity) in Mumbai closed at Rs 6150 per 10 gram from Rs 6080.

Spot gold (99.90 purity) closed at Rs 6185 after last week's Rs 6120.

Spot silver (.999) closed higher at Rs 10960 from last week's Rs 10835 per kilogram.

National Commodity and Derivatives Exchange of India (NCDEX) gold rose 1.3 per cent over the week while silver prices gained 2.9 per cent.

NCDEX February gold ended at Rs 6112 compared with last week's close of Rs 6032.

Open interest and volume were at 134600 gram and 318800 gram respectively.

March gold closed at Rs 6152 from Rs 6058 with an open interest and volume of 506100 gram and 182000 gram respectively.

NCDEX February silver contract ended at Rs 10757 from Rs 10450 last week.

Open interest was at 11425 kilogram while the volume of contract stood at 49575.

March silver contract closed at Rs 10766 from Rs 10454 last week, with open interest of 125150 and a volume of 78660.

Multi Commodity Exchange of India (MCX) April contract closed at Rs 6143 from last week's Rs 6036 with open interest of 3108 kg and a volume of 1351 kg.

The June contract closed at Rs 6169 compared with last week's Rs 6073 along with an open interest of 79 kg.

March gold HNI (High Net Worth Individuals) contract closed at Rs 6015 from last week's Rs 5928 with an open interest and volume of 57 kg and 54 trades.

HNI silver March closed at Rs 10643 from Rs 10145 last week, with open interest of 3150 kg and 13650 kg of volumes traded.

March 4 silver contract rose to Rs 10806 from Rs 10451 last week. The open positions stood at 232500 kg and the volume of contract was 144180 kg.

The May contract traded at Rs 10795 from the previous week's Rs 10488, with 74010 kg positions open, and a volume of 29430 kg.

July silver closed at Rs 10805 up from Rs 10531 last week with an open interest of 2190 kg and a volume of 450 kg.