MUMBAI: Gold prices rallied further on the bullion market here today due to sustained demand from stockists amidst higher global advices. Silver also moved up on mild industrial support. Gold rose in London, toward $935 an ounce as investors found support from the US Federal Reserve indicating that it was in no hurry to raise borrowing costs from ultra-low levels.
The Fed, concluding a two-day meeting, said it would hold overnight rates in a range between zero to 0.25 per cent and gave no hint of an imminent exit from its easing monetary policy.
Spot gold stood at $932.80 an ounce, up from $931.10 quoted late in New York on Wednesday. It hit a high of USD 936.30 in Asian trade.
Spot silver also firmed up slightly to USD 13.88 an ounce.
In the domestic market, standard gold (99.5 purity) shot up further by Rs 140 per ten grams to Rs 14,680 from previous closing level of Rs 14,540.
Pure gold (99.9 purity) also hardened by a similar margin of Rs 140 per ten grams to Rs 14,750 from Rs 14,610.
Silver ready (.999 fineness) ended higher at Rs 22,760 per kilo from Rs 22,740 previously.
