Gold up on global cues; silver rules steady

New Delhi, Aug 20 (PTI) Gold prices on Thursday rose by
Rs 60 at Rs 15,160 per 10 gram in the bullion market here on
fresh buying by stockists, triggered by a firming global
trend.

Marketmen said buying in gold gathered momentum after the
precious metal moved up in overseas markets on hopes that a
weakening dollar and rising equities may boost demand for the
metal as an alternative investment.

Gold in London rose by 2.44 dollar to 944.49 dollar an
ounce.

Meanwhile, silver prices remained stable in the absence
of any worthwhile market moving factor and were trading at
Rs 23,000 per kg.

Standard gold and ornaments rose by Rs 60 each at Rs
15,160 and Rs 15,010 per 10 gram respectively, while sovereign
remained unchanged at Rs 12,500 per piece of eight gram.

Silver ready held steady at Rs 23,000 per kg, while
weekly-based delivery surged by Rs 340 to Rs 23,070 per kg on
speculative buying.

Silver coins continued to be asked around previous level
at Rs 29,900 for buying and Rs 30,000 for selling of 100
pieces. PTI RS
SDE
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