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Gold regains Rs 27,000-level in Mumbai

Last Updated: Friday, May 3, 2013 - 14:31

Zee Media Bureau

Gold prices regained Rs 27,000 per ten grams level in Mumbai bullion market Friday in tandem with firming trends in local futures and international markets.

Renewed physical buying at prevailing-level also supported bullion prices in spot markets.

The yellow metal price had plunged below the Rs 27,000 per 10 grams level at the bullion market here yesterday on heavy selling from stockists.

Silver prices also recovered today following re-emerged jewellery demand.

Standard gold of 99.5 percent purity jumped by Rs 345 to Rs 27,250 per ten grams as against its previous close of 26,905.

Pure gold of 99.9 percent purity also gained by Rs 350 to Rs 27,390 per ten grams from Rs 27,040.

Similarly, silver ready (.999 fineness) climbed by Rs 315 to Rs Rs 45,855 per kg compared to 45,540 previously.

Market analysts said the rise in gold prices was mainly in line with a firming trend in overseas markets on optimism that stimulus will be sustained, countering a drop in bullion- backed exchange-traded products.

Meanwhile, gold rose by 0.70 percent to USD 1,477.25 an ounce in Singapore in early trade today.

With PTI Inputs

First Published: Friday, May 3, 2013 - 14:29
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