Saturday October 6, 06:48 PM
Gold continues to rule firm
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By Agencies
Gold prices continued to rule firm on the bullion market here today on persistent demand from stockists on the back of higher New York advices. Silver, however, eased on lack of industrial demand. Good demand from stockists in view of fast approaching festival season was the main reason behind rise in the prices of gold, traders said. Standard gold (99.5 purity) rose by Rs 75 per ten grams to Rs 9,505 from Rs 9,430 yesterday. Pure gold (99.9 purity) also hardened to Rs 9,555 from Rs 9,480. In New York, gold futures went on a roller-coaster ride with euro on Friday. It first tumbled along with the European currency after a stronger-than-expected US jobs report, but shot up soon thereafter. December gold rose by USD 3.40 to USD 747.20 an ounce on the Comex division of the New York Mercantile Exchange. Comex December silver fell a penny to USD 13.49, but bounced from a low of USD 13.31. In the local market, silver ready (.999 fineness eased to Rs 18,055 per kilo from Rs 18,075 previously.
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