Gold Prices Surged Today : Gold prices rose
further in the domestic bullion market today due to continued buying from
jewellery stockists and retail consumers, driven by a strong global sentiment.
Silver, too, witnessed a sharp movement, due to a heavy speculative offtake
coupled with higher industrial offtake . Standard gold (99.5 purity) spurted by
Rs 100 to end at Rs 26,800 per 10 grams from overnight Rs 26,700.
Palladium steadied near a more than 13-year
high on Thursday as supply concerns from a Five-month strike
in No.2 producer South Africa triggered buying from industrial users and
investors. Palladium, used in jewellery
and catalytic converters to clean exhaust emissions - chiefly of
gasoline-powered vehicles, has gained more than 20 percent so far this year,
overshadowing its sister metal platinum that has risen about 8 percent.
Crude palm oil prices fell for the
third consecutive day by losing 0.22 per cent to Rs 510.30 per 10 kg in futures
market today as speculators offloaded positions due to sluggish demand in the
spot market. At the Multi Commodity Exchange, crude palm oil for delivery in
June fell Rs 1.10, or 0.22 per cent to Rs 510.30 per 10 kg in a business
turnover of 22 lots.
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