Gold scales a new peak of Rs30,300 per 10 gm as rupee wilts
02 Jun 2012
Gold prices breached Rs30,000 mark for the first time, hitting Rs30300 per 10 grams, helped by a depleted rupee and the global financial uncertainty.
The yellow metal gained Rs960 per 10 gm overnight amidst heavy speculative buying by both stockists and retailers even as prices strengthened in the overseas markets as well.
Gold 99.9 purity traded at Rs30,300 per 10 gm while the 99.5 per cent purity metal was trading at Rs30160 per 10 gm, both gaining Rs960 each.
Sovereign (8 gm coins) gained Rs350 at Rs24.200 per piece.
Gold prices had eased on Friday following a drop in overseas markets and rupee's brief gains against the dollar. There was, however, less enthusiasm among consumers to buy gold and gold jewellery at such high rates.
Also, the wedding season buying has almost ended and the festival season is some months away, so that buyers need not hurry.
