Gold prices rose for the third day today by gaining Rs 125 to Rs 19,125 per ten gram in the bullion market here on heavy buying by traders. Silver surged by Rs 300 to cross the psychological level of Rs 30,000 per kg on increased offtake by industrial units and coin makers.
Buying activity gathered momentum as gold rose to a record $1,263.70 an ounce in New York as Europe’s fiscal woes and dimming prospects for the US economy prompted investors to step up purchases of bullion as a safe bet.
Standard gold of 99.9 purity and 99.5 purity rose by Rs 125 each to near record levels of Rs 19,125 and Rs 19,025 per ten gram respectively. The precious metal had surged to record level of Rs 19,220 per ten gram on June 8.
Sovereign followed suit and added Rs 25 to Rs 14,725 per piece of eight gram.
Silver ready strengthened further by Rs 300 to Rs 30,100 per kg and weekly-based delivery by Rs 400 to Rs 29,920 per kg. Silver coins were enquired higher by Rs 100 to Rs 34,700 for buying and Rs 34,800 for selling of 100 pieces.
