PT: Gold zooms to record highs, silver improves further
Mumbai, May 25 (PTI) Gold once again sparkled to hit a new peak on the bullion market here today following hectic buying by stockists and retail investors amid bullish global cues.
"A good local demand due to ongoing marriage season supported the (rise in the price of the) precious metal ," traders said.
Sluggish equities and weakening rupee compelled the investors to go for alternate safe investment like gold, they added.
Silver too, improved further on sustained industrial demand.
Standard gold (99.5 purity) spurted by Rs 325 per ten grams to end at Rs 18,475 from overnight closing level of Rs 18,150.
Pure gold (99.9 purity) also moved up by a similar margin to finish at Rs 18,560 as against Rs 18,235 previously.
Silver ready (.999 fineness) rose by Rs 135 per kilo to finish at Rs 29,380 from yesterday's Rs 29,245.
