MUMBAI: Gold prices crossed Rs 15,500-level in the early trade on the bullion market here on Wednesday on persistent safe-haven buying triggered by overnight rally in New York market.
The world wide recession mainly pushed up the gold prices in global market as investors preferred to park their funds in this metal as a risk free, a dealer said.
Gold futures rose to their highest level in seven months, near $970 an ounce, as investors seeking a safe-haven against economic troubles.
Gold for February delivery rose by $25.50 an ounce to $967.00 on the Comex Division the New York Mercantile Exchange.
Turning to the local market, standard gold (99.5 purity) rallied by Rs 315 per ten grams to resume at Rs 15,545 as against yesterday's highest closing level of Rs 15,230.
Pure gold (99.9 purity) also rose to Rs 15,605 from Rs 15,295 on Tuesday.
Silver ready (.999 fineness) firmed by Rs 835 per kilo to Rs 23,150 from Rs 22,315 previously.
Soruce:http://timesofindia.indiatimes.com/
The world wide recession mainly pushed up the gold prices in global market as investors preferred to park their funds in this metal as a risk free, a dealer said.
Gold futures rose to their highest level in seven months, near $970 an ounce, as investors seeking a safe-haven against economic troubles.
Gold for February delivery rose by $25.50 an ounce to $967.00 on the Comex Division the New York Mercantile Exchange.
Turning to the local market, standard gold (99.5 purity) rallied by Rs 315 per ten grams to resume at Rs 15,545 as against yesterday's highest closing level of Rs 15,230.
Pure gold (99.9 purity) also rose to Rs 15,605 from Rs 15,295 on Tuesday.
Silver ready (.999 fineness) firmed by Rs 835 per kilo to Rs 23,150 from Rs 22,315 previously.
Soruce:http://timesofindia.indiatimes.com/
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