Oil, gold prices surge today

Oil recovered somewhat on Tuesday, in line with stronger equity markets, and after OPEC predicted crude demand growth would settle this year before turning positive in 2010, whereas, slight increase in gold prices was witnessed in local markets today. In London trading, Brent North Sea crude for August delivery added 75 cents to reach 61.44 dollars a barrel. New Yorks main contract, light sweet crude for delivery in August also rose 75 cents to 60.44 dollars. On the other hand, slight increase in gold prices was recorded in local markets today. Gold prices on Tuesday surged to Rs 28,550 per 12 grams, up by Rs 200 whereas price of 10 grams rose to Rs 24,471, traders said.