Gold regains Rs 17,000-level on firm global cues
April 12, 2010
Standard gold and ornaments spurted by Rs 175 each to Rs 17,100 and Rs 16,950 per ten grams, respectively, a level last seen on March 8. Sovereign gained Rs 25 to trade at Rs 14,025 per eight-gram piece.
The trading sentiment turned bullish as gold rose to its four-month high in the Asian region, touching a 27-year high in Tokyo.
In Singapore, the metal gained 0.7 per cent to USD 1,170, the highest level since December 4, 2009.
Some investors shifting their money from weakening equity markets to bullion also caused the prices to improve, they added.