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       BUSINESS Next Article: IBM India names Karan Bajwa as MD  
       Gold maintains uptrend, hits 1-month high
 
         Posted on :17:25:06 Jan 5, 2017
   
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       Last edited on:17:25:06 Jan 5, 2017
         Tags: Gold, 1-month high
 
NEW DELHI: Marching forward for the third straight day, gold prices today surged by another Rs 180 to a nearly month high of Rs 28,730 per 10 grams, in line with a firming trend overseas amid increased buying by local jewellers.
 
Silver followed suit and advanced by Rs 350 to Rs 40,600 per kg due to increased offtake by industrial units and coin makers.
 
Traders said sentiment took a turn for the better after gold advanced to its highest level in four weeks in global markets as the US dollar retreated from a 14-year peak hit earlier this week, which kept the precious metals higher.
 
Globally, gold rose 0.9 per cent to USD 1,173.51 per ounce, the highest level in almost a month in Singapore.
 
In addition, persistent buying by local jewellers at the domestic spot market provided more traction, they said.
 
In the national capital, gold of 99.9 per cent and 99.5 per cent purity climbed by Rs 180 each to Rs 28,730 and Rs 28,580 per ten grams, respectively, a level last seen on December 8 when it closed at Rs 28,710. The precious metal has gained Rs 250 in the last two days.
Sovereign went up by Rs 200 at Rs 24,200 per piece of eight grams.
 
Following gold, silver ready hardened by Rs 350 to Rs 40,600 per kg and weekly-based delivery by Rs 360 at Rs 40,580 per kg.
 
Silver coins, however, held steady at Rs 71,000 for buying and Rs 72,000 for selling of 100 pieces
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       BUSINESS
Next Article: IBM India names Karan Bajwa as MD
 
 
BUSINESS HEADLINES
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Retail inflation hits 3-year low of 3.41%  
TCS names Rajesh Gopinathan as MD and CEO  
Factory output grows 5.7 pc in Nov, shrugs off slowdown fears  
TCS Q3 net profit up 11% to Rs 6,778 cr  
Demonetisation, GST to make society tax compliant: Jaitley  
Patel urges govt to rein in borrowings, inflation  
GoAir firms up order for 72 A320 neo planes worth Rs 52,000 cr  
Nano project led to Gujarat as car mfg hub: Ratan Tata  
Yahoo Chief Mayer to leave company board after Verizon sale  
Auto sales at 16-yr low in Dec as demonetisation takes toll  
FM cites higher tax mop up to dismiss economic slowdown fears  
Demonetisation just a bump; India to maintain 7% growth: Cisco  
Volkswagen defies 'dieselgate' to boost sales in 2016  
'Despite demonetisation, India to grow faster than China'  
Apple cuts Tim Cook's pay as iPhone sales fall first time  
Govt clears 26% stake sale in BEML  
NRIs can deposit old banknotes till June 30  
Sensex ends 119 down after hitting 27k, IT stocks melt  
Reserve Bank unlikely to cut key rate in February: Report  
Gold maintains uptrend, hits 1-month high  
 
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