Gold's smooth sailing continues
Gold is continuing its shining and the prices surged as jewelers and stockists intensified their buying by forecasting forthcoming wedding season in the early stage of the bullion market today.
The gold traded by Rs 11465 per ten gram on Friday, Rs 215 increase in the opening session of the trade, a level never seen before as the metal in overseas markets rose to record high.
In Asian region, the precious metal rose to a record and silver matched its highest level since 1980 as a weakening dollar increased the allure of the metals as alternative investments.
With the firming trend in the local market, the silver prices also rose by Rs 350 at Rs 20,300 per kilo, still below its all time high levels.