Gold, silver up on sustained buying, global cues
Gold rose by Rs 85 per 10 gram, silver up by Rs 60 per kg.
Mumbai: Gold prices moved up further at the domestic bullion market here on December 22, following continued buying from stockists and jewellers, also well supported by higher global cues. Silver also gained on good speculative offtake.
Standard gold (99.5 purity) rose by Rs 85 per 10 grams to close at Rs 25,285 from Monday's closing level of Rs 25,200. Pure gold (99.9 purity) also advanced by a similar margin to conclude at Rs 25,435 per 10 grams as against Rs 25,350 previously. Silver (.999 fineness) also went up by Rs 60 to finish at Rs 34,485 per kg as compared to Rs 34,425.
Globally, gold held on to its gains supported by the retreat in the dollar, though uncertainty over the pace of US interest rate increases capped gains. In London, spot gold was quoting up at USD 1,077.56 an ounce in early trade, while silver rose to USD 17.29 an ounce.
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