Mumbai: Gold prices spurted and scaled fresh all-time highs at the bullion market in Mumbai on Thursday following heavy off-take by stockists and investors triggered by bullish trend in international market. Silver tracked the yellow metal and gained on good speculative demand.
Standard gold (99.5 purity) climbed up by Rs 140 to end at Rs 30,000 per 10 gm from Wednesday's closing level of Rs 29,860. Pure gold (99.9 purity) advanced by Rs 135 to finish at Rs 30,145 per 10 gm as compared to Rs 30,010 on Wednesday.
Silver ready (.999 fineness) went-up by Rs 120 per kg to conclude at Rs 55,510 from Rs 55,390 previously.
In New York, gold surged after dismal US retail sales data, driving investors to the precious metal as safe-haven appeal amidst expectations of further quantitative easing by the Federal Reserve. Gold for August delivery rose $5.60 to $1,619.40 an ounce on the Comex division of the NYMEX late on Wednesday. Silver for July delivery ended lower by one cent at $28.94 an ounce.
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