The Telegraph
Since 1st March, 1999
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Gold hits new high

Mumbai, Nov. 29: Gold today finished at a new high of Rs 6,040 per ten gram, boosted by good demand on account of the ongoing marriage season and firm international prices. However, prices showed some signs of fatigue as it hovered in a narrow range throughout the day as the initial buying enthusiasm faded. Analysts aver that gold prices may be in for a further hike next week if international prices surpass the $400 per ounce mark.

Gold prices have displayed a firm trend in the past few days and have hovered around the $ 400 per ounce mark. In London, the metal was fixed in the afternoon trade on Friday at $398.55 per ounce. Some feel that with the dollar weak in the currency markets, the yellow metal may breach the $400 per ounce mark.

Pure gold (99.9 purity) opened at Rs 6,040 and closed at the same level, a marginal gain of Rs 5 over yesterday's close of Rs 6,035. Standard gold opened at Rs 6,000 and closed at the same level, a gain of Rs 5 over the previous close of Rs 5,995. Silver attracted good support. Ready silver (.999 fineness), opened at Rs 8,700, found buying support and closed at Rs 8,725, a gain of Rs 30 over the last close of Rs 8695.

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