India gold closes marginally higher on overseas leads

Tag : high purity

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