Gold Makes a Come-Back after Ten-Month Low
A retrace of prices of gold has now pleasantly been witnessed after the market saw a recovery of Rs 30,000 per ten gram levels. Bullion market has called it a strong come-back for gold.
Reports have revealed that there is a rise in gold prices by Rs 470 to Rs 30,030 per ten gram. Silver has seen an increase of Rs 800 to Rs 52,400 per kg. After a ten-month low, gold has again seen a surge.
It is usually gold in US that sets a trend for the domestic market. There has been an increase by $28.70 to $1582.30 an ounce and silver by 1.67% to $27.35 an ounce. Figures on the domestic front have shown that gold of 99.9 and
99.5 % purity had a gain of Rs 470 each to Rs 30,030 and Rs 29,830 per ten grams respectively.
Following the normal trend, silver showed an increase of Rs 800 to Rs 52,400 per kg and weekly-based delivery by Rs 745 to Rs 51,540 per kg.
Analysts had earlier explained that sustained selling by stockists after the lethargic marriage season was negative for the market. Now, the reports seem to give a sigh of relief for a little while.