Bhutto Assassination Sends Gold Soaring

MUMBAI: Gold prices jumped to 4-week high in European and the US markets on Thursday after Pakistani Opposition leader Benazir Bhutto was assasinated in Rawalpindi. Taking cues from global markets, domestic gold prices also recorded hefty gains on Thursday.

In Kolkata, standard gold (99.5) surged to touch a four-week high of Rs 10,700, up Rs 140 per 10 gm over the previous close. The yellow metal rose by Rs 130 at 10,580 per 10 gm in Delhi, followed by Mumbai with a jump of Rs 120 at Rs 10,515 per 10 gm. The precious metal traded Rs 100 higher at Rs 10,520 per 10 gm in Chennai. Also ready silver (.999) surged by Rs 235 at Rs 19,470 per kg in Chennai.

Mumbai too extended gains by Rs 190 at Rs 19,360 per kg followed by Delhi, where the metal strengthened by Rs 65 at Rs 19,200 per kg and Kolkata, where the metal rose by Rs 50 before ending at Rs 19,000 per kg.