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Rediff.com  » Business » Gold remains up on scattered buying; silver steady

Gold remains up on scattered buying; silver steady

July 28, 2014 14:57 IST

Gold and silver barsGold extended gains for the second day with prices rising by another Rs 20 to Rs 28,370 per 10 grams in the national capital on Monday on scattered buying by stockists for the festive season demand.

Silver, on the other hand, remained flat at Rs 44,800 per kg on selective buying support.

Marketmen said some buying by stockists and jewellers to meet the festive season demand mainly influenced gold prices but a weak trend in overseas markets capped the gains.

On the domestic front, gold of 99.9 and 99.5 per cent purity advanced by Rs 20 each to Rs 28,370 and Rs 28,170 per ten grams, respectively.

It had gained Rs 250 on Saturday.

Sovereign, however, remained steady at Rs 24,900 per piece of eight grams.

Globally, gold prices fell as much as 0.4 per cent to 1,301.49 an ounce in Singapore.

On the other hand, silver ready remained steady at Rs 44,800 per kg, while weekly-based delivery rose by Rs 90 to Rs 44,370 per kg, after gaining Rs 265 in the previous session on Saturday.

Silver coins dropped by Rs 1,000 to Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.

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Tags: Singapore