Gold prices strengthened further at
the domestic bullion market today on the back of continued
buying interest from jewellery stockists and retailers
tracking a firm overseas undertone.
Silver also rallied due to increased industrial demand.
Standard gold (99.5 purity) rose by Rs 120 to conclude at
Rs 27,325 per 10 grams from overnight Rs 27,205.
Pure gold (99.9 purity) also went up by same margin to
finish at Rs 27,475 per 10 grams from Rs 27,355.
Silver (.999 fineness) moved up by Rs 170 to finish at Rs
42,605 per kg as compared to Friday's Rs 42,435.
Globally, the shiny metal settled at near a two-week high
on safe-haven demand benefiting from ongoing geopolitical
tensions in Iraq as well as weak equity markets. But gains
were capped ahead of the Federal Open Market Committee
Monetary Policy meet next week.
Gold for August delivery settled higher at USD 1,274.10
an ounce on the Comex division of the NYMEX late yesterday,
while silver July contract ended at USD 19.655 an ounce.