Jul 30, 2008 03:05
New Delhi, July 29: Gold prices rose by Rs 95 to regain the Rs 13,000-level on the bullion market here on Tuesday on heavy demand from stockists and jewellery fabricators ahead of Teej and Raksha Bandhan amid a steep fall in stock markets.Traders said the rise in prices were also aided by strong cues in global markets. Gold traded $8.88 higher at $939.50 an ounce in Singapore.Standard gold and ornaments spurted by Rs 95 to Rs 13,000 and Rs 12,850 per 10 grams respectively while sovereign gained Rs 25 to Rs 10,650 per piece of eight gram.A similar trend was extended in silver, as silver ready notched a gain of Rs 200 at Rs 24,850 per kg and weekly-based delivery by Rs 195 to Rs 24,695 per kg respectively.On the other hand, silver coins continued to be asked around previous level of Rs 28,000 for buying and Rs 28,100 for selling of 100 pieces.The market supported by higher energy costs and declining equity markets, boosting demand for the metal as a haven asset.— PTIÂ
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