NEW DELHI: Surpassing all previous records, gold touched another historic peak of Rs 18,000 per 10 gram in the bullion market here on persistent buying by stockists for the ongoing marriage season amid firming global cues.
Standard gold and ornaments rose by Rs 220 each to Rs 18,000 and Rs 17,850 per 10 gram, respectively. Sovereign also rose by Rs 100 to set a new peak of Rs 13,800 per piece of eight gram.
Marketmen said firming trend in the overseas market supported the rise in yellow metal here. Gold in Asia traded 0.8% higher at 1,179.20 dollar an ounce, while in futures trading in New York, the metal surged to record 1,181.60 dollar an ounce.
Gold in the international markets touched record levels as the dollar extended declines amid fears that more central banks might purchase gold from IMF.
The metal has rallied 11% after India bought 200 metric tons of gold from the International Monetary Fund in October. Mauritius, Sri Lanka and Russia have followed suit since then.
"Gold is moving on fast pace ever since the central banks started purchasing the metal," said Rakesh Anand of R K Jeweller.
Meanwhile, silver ready rose by Rs 250 to Rs 29,000 and weekly-based delivery by Rs 160 to Rs 28,580 per kg, while silver coins continued to be asked around previous level of Rs 34,400 for buying and Rs 34,500 for selling of 100 pieces.
TOI
Standard gold and ornaments rose by Rs 220 each to Rs 18,000 and Rs 17,850 per 10 gram, respectively. Sovereign also rose by Rs 100 to set a new peak of Rs 13,800 per piece of eight gram.
Marketmen said firming trend in the overseas market supported the rise in yellow metal here. Gold in Asia traded 0.8% higher at 1,179.20 dollar an ounce, while in futures trading in New York, the metal surged to record 1,181.60 dollar an ounce.
Gold in the international markets touched record levels as the dollar extended declines amid fears that more central banks might purchase gold from IMF.
The metal has rallied 11% after India bought 200 metric tons of gold from the International Monetary Fund in October. Mauritius, Sri Lanka and Russia have followed suit since then.
"Gold is moving on fast pace ever since the central banks started purchasing the metal," said Rakesh Anand of R K Jeweller.
Meanwhile, silver ready rose by Rs 250 to Rs 29,000 and weekly-based delivery by Rs 160 to Rs 28,580 per kg, while silver coins continued to be asked around previous level of Rs 34,400 for buying and Rs 34,500 for selling of 100 pieces.
TOI
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