PTI; Gold gains Rs 360 on firming global trend, volatile stocks
New Delhi, Dec 11 (PTI) Continuing its upward march gold prices today rose for the fourth straight day gaining Rs 360 to close at Rs 12,980 per ten gram in the bullion market here on stockists buying influenced by firming global trend amid investors shifting from bourses.
Marketmen said, the precious metal moved in tandem with international trend which saw invetors shifting focus from volatile stock markets to the bullion for quick bucks.
Standard gold and ornaments jumped up by Rs 360 each at Rs 12,980 and Rs 12,830 per ten gram respectively. Sovereign rose by Rs 25 at Rs 10,500 per piece of eight gram.
In London as the dollar weakened, increasing the metal's appeal as an alternative investment to the U.S. Currency gold climbed by 8.85 dollar to 819.45 dollar an ounce.
A similar firmness was noticed in silver on emergence of buying by industrial units, fearing the metal might go further higher in coming days.
Silver ready shot up by Rs 400 at Rs 17,150 per kg and weekly-based delivery by Rs 380 at Rs 17,280 per kg. Silver coins rose by Rs 200 at rs 25,500 for buying and Rs 26,600 for selling of 100 pieces. PTI