5/13/2010 06:11:00 PM
Admin
Precious Metals prices extended their upward rally yesterday with gold prices reaching an alltime high of $1248 per ounce on COMEX and Silver crossing Rs. 30K per kg on MCX. Attributes of precious metals being a safe-haven asset is encouraging high level in investment demand. The world's largest gold-backed exchangetraded fund, SPDR Gold Trust, said its holdings stood at a record high of 1,209.499 tonnes as of May 12, up 17.3490 tonnes from 1,192.150 tonnes in the previous business day. The world's largest silver-backed exchangetraded fund, the iShares Silver Trust, said its holdings stood at 9,115.15 tonnes as of May 12, unchanged from the previous business day.
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