Gold climbs to new high of Rs 23,175/10 gram, silver slips

Posted By: Religare
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Gold climbs to new high: Rs 23,175/10 gram
Gold prices increased by Rs 655 to touch all-time high of Rs 23,175 per 10 grams on Saturday (30th April, 2011), driven by increase in buying by stockists and retail customers ahead of 'Akshya Tritya' later this week, which is considered an auspicious day for buying gold.

The rise in gold price in the domestic market was also boosted by sustained buying by speculators, triggered by a strong rally in overseas markets, as the metal in international markets climbed to a record high of USD 1,570.60 an ounce in day-to-day trading.

Silver, on the other hand, recorded a moderate loss of Rs 500 to Rs 71,500 per kg, due to profit- taking by dealers at existing higher levels and weekly-based delivery fell by Rs 570 to Rs 70,600 per kg. Silver coins lost Rs 500 to Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.

Read more about: gold, silver, investment
Story first published: Monday, May 2, 2011, 9:30 [IST]
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