The gold rally continued for another day as a struggling dollar triggered fresh bouts of speculative and fund buying.
On Friday (February 22), the yellow metal hit new high of Rs 12,230 per 10 gm in Mumbai, while in Kolkata it touched a life-time high of Rs 12,450 per 10 gm after adding Rs 50 against the previous close. Delhi, a major market in the north, after a four-day long victory rally, took a break and ended Rs 5 lower at Rs 12,210 per 10 gm. Chennai also did so and traded Rs 25 lower at Rs 12,135 per 10 gm.
In international markets, gold after touching an intraday high of USD 949.40 an ounce fell to USD 945.90/946.70, and that compared with USD 944.40/945.20 in New York late on Thursday, when it hit a record of USD 953.60.
Silver on the other, showed a mixed pattern of trading on alternate bouts of buying and selling. In Delhi and Kolkata, ready silver (.999) shot by Rs 100 and Rs 50 before ending at Rs 22,100 and Rs 21,850 per kg, respectively.
In Mumbai, the metal lost marginally on lack of industrial demand at higher levels and closed Rs 15 lower at Rs 22,540 per kg. Chennai markets saw a loss of Rs 80 as the prices settled at Rs 23,840 per kg. In London, silver held near Thursday`s 27-year peak of USD 18.03 an ounce. It was last seen at USD 17.93/17.98, as against USD17.84/17.89 in New York.
No comments:
Post a Comment