Gold prices rallied by Rs 300 per 10 grams to Rs 13,130 on the bullion market in Mumbai on Monday on heavy stockists buying in view of festival season coupled with higher global advices and weak equity markets. The ongoing auspicious fortnight of Navratras and the approaching Diwali lifted prices of gold, a dealer said.
Weak equity markets also boosted the market sentiment as some investors shifted their funds in gold as a safe-haven investment.Standard gold (99.9 purity) shot up by Rs 300 per 10 gram to Rs 13,130 from last weekend''s level of Rs 12,830.Pure gold (99.9 purity) also rose by a similar margin to Rs 13,190 from Rs 12,890 previously.
Weak equity markets also boosted the market sentiment as some investors shifted their funds in gold as a safe-haven investment.Standard gold (99.9 purity) shot up by Rs 300 per 10 gram to Rs 13,130 from last weekend''s level of Rs 12,830.Pure gold (99.9 purity) also rose by a similar margin to Rs 13,190 from Rs 12,890 previously.
No comments:
Post a Comment