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01-10-2010, 05:31 PM #1
Silver, Gold rise during the week
Precious metals surged during the week ended today under review, with Silver soaring by Rs 1,325 per kg and Gold by Rs 205 per ten gm.
Barring yesterday, Silver rose throughout the week.
On Monday, it rose by nominal Rs 40 per kg to end at Rs 27,425, which was the lowest figure of the week. The rally lasted till Thursday. Within four days, it rallied by Rs 970 per kg on brisk demand from ornament makers and bullish advices from global markets, dealers said.
Yesterday, it slid by Rs 40 per kg, however, it bounced back today by Rs 395 per kg to end in the green at Rs 28,710, the highest.
Silver zoomed by Rs 1,325 per kg to Rs 28,710 against its previous week's close.
Gold, on the other, oscillated throughout the week. It rose on Monday, Tuesday and today, while declined on Wednesday, Thursday and Friday.
In the first two days, the yellow metal jumped up by Rs 190 per ten gm owing to better buying support from ornament makers.
On Tuesday, it ended in the green at Rs 16,860.
But the gains were short-lived as it slid by Rs 140 per ten gm in the next three days to close at Rs 16,720, the lowest value.
Today, it however bounced back by Rs 155 to end at Rs 16,875, the highest value.
Standard and pure gold rose by Rs 205 per ten gm each to end at Rs 1,6875 and Rs 16,960 respectively against their last week's close.
In the international market too, the precious metals were on the upswing, as Gold was quoted at USD 11.24/11.25 per troy ounce during the week ended January 8, compared with the previous week's close of USD 11.16/11.28 While, Silver was recorded at USD 18.14/18.16 per troy ounce, as compared to the previous weekend's close of USD 12.03/12.05 per troy ounce.
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