Gold prices surged by Rs 225 to Rs 13,650 per 10 gram in the first trading of the year 2009 in the national capital on Thursday on emergence of heavy buying by stockists and jewellery fabricators.
Following the same route, silver prices shot up by Rs 400 to Rs 18,300 per kg. Marketmen said persistent buying by stockists and jewellers amid restricted arrival mainly led the rise in both gold and silver prices.
They said closure of international markets for winter and New Year holidays, kept the market directionless and the current surge was on expectations of a better start in the global markets next week.
Standard gold and ornaments which ended lower in the last trading session of 2008 yesterday, bounced back by Rs 225 each to Rs 13,650 and Rs 13,500 per 10 gram, respectively. Sovereign gained Rs 50 at Rs 10,750 per piece of eight gram.
In a similar fashion, silver ready rose sharply by Rs 400 to Rs 18,300 per kg and weekly-based delivery by Rs 500 to Rs 18,400 per kg. Silver coins quoted higher by Rs 100 at Rs 27,100 for buying and Rs 27,200 for selling of 100 pieces
