Gold prices zoom past Rs 13k per 10 gram

UP, UP AND AWAY: Analysts say gold prices could even touch Rs 15,000 this year.

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New Delhi: Gold is getting costlier by the day and the yellow metal zoomed past all previous records to close at Rs 13,200 per 10 grams on Friday.

Concerned over falling dollar against other leading currencies and crude oil prices rising to $111 a barrel, stockists aggressively bought gold, taking the prices to yet another high.

Analysts say gold prices could even touch Rs 15,000 this year.

They add that the likely 0.5 per cent rate cut by the US Federal Reserve next week might not have any impact on the rising gold prices.

India imported only 10.2 tonne of gold in February compared with 56 tonne during the same month, a year ago.

Buying activity picked up after reports that gold prices in the US markets had surged to an all-time high of $1,005 an ounce.

Silver ready, on the other hand declined by Rs 250 at Rs 24,750 per kilo while weekly-based delivery rose by Rs 125 at Rs 26,740 per kilo as speculators extended support on expectations that the prices might go further high.

Silver coins declined by Rs 100 at Rs 26,900 for buying and Rs 27,000 for selling of 100 pieces.