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This is an archive article published on May 2, 2012

Gold price at yet another all-time high

Gold prices moved up further to mark new all time high at the bullion market here.

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Gold prices moved up further to mark new all time high at the bullion market here,with moderate stockist as well as investment demand amidst better marriage season offtake.

On the other hand,silver dropped following hectic speculative selling by traders on the back of lower industrial demand.

Standard gold (99.5 purity) gained by Rs 20 to close at Rs 29,235 per 10 gm from Monday’s closing level of Rs 29,215.

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Pure gold (99.9 purity) also edged up by similar margin to finish at Rs 29,370 per 10 gm as against Rs 29,350.

However,silver ready (.999 fineness) fell by Rs 635 per kg to end at Rs 56,210 from Rs 56,845 previously.

In New York,gold ended lower on fluctuating session after better than expected US manufacturing data amidst higher dollar.

Gold for June delivery declined USD 1.80 to USD 1,662.40 an ounce on the Comex division of the NYMEX late yesterday.

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Silver for July contract slipped 9 cents to USD 30.93 an ounce.

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