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Gold Glints at New High

The precious metal managed to notch up spectacular gains

With everyone’s eyes on the stock markets as they rose and fell in an extreme showmanship of volatility, the precious metal actually stole the limelight after notching up spectacular five-days-in-a-row of gains to culminate in a high on Thursday.

In New Delhi gold jumped to a price of over Rs 15,000 per 10 grammes, pumped-up considerably by buying by funds to close at Rs 15,040 .

The five-day gain totals Rs 340 per 10 grammes. The last time the metal crossed Rs 15,000-mark was on April 2.

It closed at Rs 15,070 per 10 gramme in Kolkata and at Rs 14,900 in Mumbai.

The last time this level was seen was on April 2 and one of the reasons behind this gain may be the approaching festive season as stockists and jewelers add new wares to their shelves.

The same story played out in silver too, with the metal jumping up by Rs 250 to Rs 22,050 per kilogramme.

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Gilded Gains
Different Gold Funds