Gold Steady at 30,200; Silver Gains 200


Gold Steady at Rs.30,200; Silver Gains Rs.200

New Delhi: Gold prices remained unchanged at Rs 30,200 per 10 grams on reduced offtake in the bullion market here today, while silver rose by 200 to 53,500 per kg on fresh buying.

Traders said fresh buying by stockists and jewellers for the coming festival and a firm global trend led to a rise in silver prices, while sluggish demand at prevailing higher levels kept gold prices flat.

In London, silver rose by 0.5 percent to U.S. $28.02 an ounce. On the domestic front, silver ready rose by 200 to 53,500 per kg and weekly-based delivery by 100 to 53,370 per kg.

Silver coins held steady at 62,000 for buying and 63,000 for selling of 100 pieces. Gold of 99.9 and 99.5 percent purity ruled steady at 30,200 and 30,000 per 10 grams, respectively. Sovereigns traded at the last level of 24,450 per piece of eight grams.

In the end of July, a divergent trend was seen on the bullion market as gold prices extended gains for the second straight day by adding 100 to 29,800 per 10 gm on festival demand while silver lacked necessary buying support and declined.

Source: PTI