Gold extends upward journey; jumps over Rs 400
Zee Media Bureau
Mumbai: Gold prices moved higher by Rs 405 at the bullion market here Friday on good buying by stockists, traders as well as local buying interest amidst marriage season off-take.
Silver also followed the yellow metal and posted modest gains owing to higher speculative off-take.
Standard gold of 99.5 percent purity rose by Rs 405 to close at Rs 26,325 per 10 gm from yesterday's closing level of of Rs 25,920.
Pure gold of 99.9 percent purity also gained by a similar margin to finish at Rs 26,465 per 10 grams from Rs 26,060 yesterday.
Silver ready (.999 fineness) climbed up by Rs 175 to conclude at Rs 46,210 per kg from Rs 46,035 previously.
"The yellow metal witnessed seasonal buying after falling to 20-month low on Thursday," dealers said.
Gold in overseas markets, which normally set price trend on the domestic front, rose USD 24.80 or 1.78 percent to USD 1,416.80 per ounce.
With Agency Inputs