Standard gold and ornaments gained Rs 200 each at Rs 16,200 and Rs 16,050 per 10 gram, respectively. Sovereign also shot up by Rs 50 to a new high of Rs 12,900 per piece of 8 gram.
Marketmen said for the first time in more than six months, gold in the overseas markets crossed the psychological 1,000 dollar an ounce level owing to a weak dollar and concern that inflation may rise in the future, boosting the precious metal’s appeal.
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