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Rediff.com  » Business » Gold ends steady, silver remains weak on reduced offtake

Gold ends steady, silver remains weak on reduced offtake

Last updated on: January 06, 2014 17:18 IST

BullionGold prices ruled steady at Rs 30,360 per 10 grams in the national capital today on restricted buying at prevailing higher levels.

However, silver extended its weakness for the second straight day and lost Rs 90 to Rs 45,230 per kg on reduced offtake by industrial units and coin makers.

In Mumbai, gold of 99.9 and 99.5 per cent purity were traded at Rs 30,000 and Rs 29,850 per ten grams, respectively, while silver enquired at Rs 45,500 per kg.

Traders said absence of worthwhile buying activity at prevailing levels mainly kept gold prices steady while reduced offtake by industrial units and coin makers helped silver to decline.

On the domestic front, gold of 99.9 and 99.5 per cent purity held steady at Rs 30,360 and Rs 30,160 per ten grams, respectively.

In a likewise manner, Sovereign held unchanged at Rs 25,100 per piece of eight gram. On the other hand, silver ready declined by Rs 90 to Rs 45,230 per kg. Silver weekly-based delivery too fell by the same margin to Rs 45,380 per kg. The white metal had lost Rs 180 in Saturday's trade. Silver coins were unaltered at Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.

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Tags: Mumbai