Gold touches 18-month high on global cues

Mumbai: Gold prices zoomed to an 18-month high of Rs10,250 per ten gram on the bullion market following brisk buying by stockists and jewellery fabricators.

The market, already on a firm trend on heavy demand for the current festival and marriage season, gathered momentum after reports of a steep rise in gold prices in international markets.

The gold in international markets closed near 28-year high of $800 an ounce and pushed up the precious metal''s rate to a level last seen in May 2006.

Standard gold and ornaments zoomed above an 18-month high adding Rs150 each at Rs10,250 and Rs10,100 per 10gm respectively, a level last seen on May 19, 2006.

Sovereign also rose by Rs150 to Rs8,250 per piece of eight gm. Silver ready registered a gain of Rs450 at Rs19,100 per kg and silver coins were quoted Rs200 higher at Rs24,900 per 100 for buying and Rs25,000 for selling.