Gold at historic high of Rs 16,240

Mumbai, Nov 03 : Gold today hit a historic high at Rs 16,240, surging by Rs 155 per ten gm from its overnight close, on renewed stockists demand in view of current marriage season, traders at the Bombay Bullion Association (BBA) said.

Yesterday, the yellow metal had touched an all-time high of Rs 16,085 per ten gm.

Standard gold and pure gold resumed at Rs 16,235 and Rs 16,325 per ten gm, up by Rs 150 and Rs 160 respectively against their overnight rates. At the end of session, standard gold and pure gold were quoted at Rs 16,240 and Rs 16,325, with a gain of Rs 155 and Rs 160 per ten gm respectively.

Gold zoomed owing to persistent stockists buying for the ongoing marriage season, in view of bullish global trend, traders said.

Silver on the other hand fell moderately by Rs 30 to Rs 26,790 in the opening session. At the end of the day, the white metal stood at Rs 26,690, down by Rs 130 per kg from its last night's close, on heavy selling pressure from stockists.

In London and Asian markets, Gold was quoted firm at USD 1061.00/1062.02 per troy ounce, while Silver declined at USD 16.55/16.57 per troy ounce, traders added.

Following were the closing rates of spot silver and gold: Silver (per kg).999 grade : Rs 26,690 (26,820) Gold (per 10 gm): Gold 99.5 purity Standard mint : Rs 16,240 (16,085) Gold 99.9 purity Pure gold : Rs 16,325 (16,165)

--UNI

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