Gold Ends Steady; Silver Recovers on Industrial Demand

After three-day losing run, gold prices held steady at Rs 26,500 per ten grams at the bullion market today on scattered buying activity by jewellers.

Silver, however, recovered by Rs 250 to Rs 36,000 per kg on increased offtake by industrial units and coin makers.

Gold Ends Steady; Silver Recovers on Industrial Demand

Traders said some buying by jewellers at prevailing levels helped gold prices to end steady.

In the national capital, gold of 99.9 and 99.5 per cent purity ended steady at Rs 26,500 and Rs 26,350 per ten grams, respectively. Sovereign followed suit and closed flat at Rs 23,300 per piece of eight gram.

Globally, gold was up by 0.28 per cent to USD 1,169 an ounce in London in early trade today.

On the other hand, silver ready recovered by Rs 250 to Rs 36,000 per kg, supported by increased offtake by industrial units and coin makers. Silver weekly-based delivery rose by Rs 320 to Rs 35,500 per kg.

Silver coins also spurted by Rs 1,000 to Rs 54,000 for buying and Rs 55,000 for selling of 100 pieces upsurge in demand.

PTI

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