MUMBAI (Thomson Financial) - India spot gold closed marginally higher on
Wednesday supported by overseas leads, but a stronger rupee limited gains,
traders said.
In London, gold consolidated near $940 per ounce after gaining strongly in
the previous session, with record oil prices and volatility in the dollar
continuing to support precious metals during the ongoing economic turmoil.
The Indian rupee rose in tandem with the local stock market, raising hopes
of some capital inflows, but high oil prices continued to dampen sentiment.
In Mumbai, gold of 0.995 purity closed 20 rupees higher at 12,985 rupees per
10 grams and gold of 0.999 purity closed 15 rupees higher at 13,040 rupees per
10 grams.
Silver of 0.999 purity closed 330 rupees higher at 25,080 rupees per
kilogram.
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