Mumbai, Sept 25: In India gold and silver prices extended the previous day's gains on Friday on steady seasonal demand and a firmness in world prices, dealers said.Standard gold 24 carat was up Rs 30 at Rs 4,280 per 10 grams. Gold rose Rs 20 on Thursday.
Gold biscuit (116.64 grams) gained Rs 300 to Rs 50,500 per piece after rising Rs 400 on Thursday.
In Asia, Hong Kong based traders said gold may get a temporary boost from hedge fund buying and jitters over their potential to hurt big banks with exposure to the funds.
Gold rose on Thursday after rumours circulated that a US hedge fund which had suffered huge losses in Russia was forced to cover short positions in gold.
In Mumbai, silver (.999) opened Rs 80 higher at Rs 7,700 per kg on increased industrial and seasonal demand. Silver was up by Rs 170 on Thursday.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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