Gold Hits New High Of Rs 22,520/10 Gm Global Cues

Gold scale new heights by adding Rs 50 to a record price at Rs 22.520 per 10 grams in the national capital on Friday on increased seasonal demand amid a firming global trend. The yellow metal remained in demand ahead of the next festival Akshya Tritya, considered an auspicious day for buying gold and the start of wedding season.

commercial position was further strengthened gold recorded its largest monthly advance since November 2009, Asia and the weakening dollar and inflation accelerates prompted investors to buy precious metals in a store of value, reports PTI.

Gold in world markets, which normally defines a price trend on the domestic front, reached a record $ 1540.85 an ounce as the dollar fell to its lowest level since December 2009 against the euro after the Fed to keep borrowing costs at record levels.

Change funds ingot casting stock markets also influenced the trading sentiment.

Domestically, the gold of 99.9 percent and 99.5 percent purity has remained in demand and advanced by Rs 50 to Rs 22,520 and Rs 22,400 per ten gram, respectively, levels not seen before. Rules followed suit and jumped SR 100 to a record level of Rs 18,400 per piece of eight gram.

On the other hand, silver prices of loans remained stable at 72 000 rupees per kg while weekly-based delivery increased from Rs 475 to 71 170 rupees per kg in the means of reaffirming the trend in metals parts . Silver valuable currency has remained stable at Rs 77,500 for buying and Rs 78,500 for selling of 100 pieces.