New Delhi: Riding high on the firming trend overseas and strong domestic demand ahead of festive and marriage season, gold continued its record-setting journey with prices climbing to yet another record high of Rs 32,900 per ten grams during the week.
In tandem with gold, silver also notched up further gains on sustained demand from jewellery makers and consuming industries.
Sentiment in gold remained extremely bullish as the precious metal soared to six-month high in global market after the US Federal Reserve decided to add further stimulus to power the world's biggest economy, raising demand outlook for precious metals.
Besides, continued buying by stockists and retailers to meet increased demand for the upcoming festive and marriage season, too helped gold to hit record highs.
Globally, gold zoomed to USD 1,780.20 an ounce in Singapore-the highest level since February 29. However, it slipped partially to USD 1,770.50. Silver prices soared to USD 34.68 an ounce.
On the domestic front, gold of 99.9 percent purity remained distinctly bullish throughout the week and glittered to an all-time high of Rs 32,900 per 10 grams before settling the week at Rs 32,500, still up by Rs 50 per 10 grams over previous close of Rs 32,450.
Similarly, gold 99.5 percent purity ended Rs 50 higher at Rs 32,30 per 10 grams. Sovereigns in line with gold gathered Rs 150 at Rs 25,450 per piece of 8 grams.
Silver ready too maintained its rising tempo and prices went up by another RS 100 to rs 61,900 per kg and weekly-based delivery by Rs 28t to Rs 64,280 per kg.
Silver coins shot up by Rs 1,000 to Rs 78,000 for buying and Rs 79,000 for selling of 100 pieces.
First Published: Saturday, September 15, 2012, 17:19