Gold prices rule firm

Hyderabad(NVS): As the US dollar has got stronger despite talk of continued global slowdown, the yellow metal halted its southward journey during the week ended Saturday. However, at home, the sentiment in gold and silver turned from moderate to strong in view of the fast approaching Diwali festival. Traders are hopeful of the accelerated festival demand. During the week, both the precious metals remained firm though their prices did not increase substantially. Standard gold (24 carats) after closing at Rs 27,230 per 10 gm in the last week, remained firm throughout and closed at Rs 27,330 or Rs 100 higher. Ornamental gold also followed the suit and was quoted in the range of Rs 26,680 - 26,780 per 10 gm on the closing day. Silver (0.999) too remained firm and gained Rs 200 per kg during the week. On the closing day, the white metal stood at Rs 38,700 per kg.