Gold Breaks 16000 Mark, Silver at Record High

Amid persistent festive demand and a rise in overseas markets, gold prices have broken Rs 16,000-mark for the first time in the bullion market in Mumbai, while silver continues to reach new highs, too.

During the ongoing festivals, stockists and retailers are buying the expensive metals, thus raising the demand. Silver rallied to an all-time peak on sustained industrial demand on the back of higher international advices.

In the local market, prices of standard gold (99.5 purity) went up by Rs 105 per 10 grams to resume at Rs 16,035 from Monday’s closing level of Rs 15,930. Similarly, prices of pure gold (99.9 purity) also rose by an identical margin to Rs 16,110 from Rs 16,005.

Prices of silver (.999 fineness) saw a rise of Rs 95 per kg to reach Rs 28,150 from Rs 28,055 previously.

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