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Rediff.com  » Business » Gold up on scattered retail buying; silver ends lower

Gold up on scattered retail buying; silver ends lower

August 01, 2014 15:38 IST

Gold jewelleryGold prices inched up by Rs 5 to Rs 28,250 per ten gram in the national capital on Friday on scattered buying by retailers amid recovery in global prices.

Silver, however, met with resistance and shed Rs 50 to Rs 44,850 per kg.

Traders said apart from buying by retailers for the coming festive season, a better trend in the global market mainly led to rise in gold prices.

Globally, gold traded 0.20 per cent higher at $1,284.91 an ounce in London.

In Delhi, gold of 99.9 and 99.5 per cent purity traded marginally higher by Rs 5 each to Rs 28,250 and Rs 28,050 per ten gram respectively. It had gained Rs 45 on Thursday.

Sovereign, held steady at Rs 24,700 per piece of eight gram.

On the other hand, silver ready slipped by Rs 50 to Rs 44,850 per kg while weekly-based delivery rose by Rs 75 to Rs 44,435 per kg on speculators' buying.

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