Gold steady on scattered support, silver cracks

Gold prices ruled steady at Rs 27,250 per 10 grams in restricted activity at the bullion market on Monday on scattered buying support from jewellers even as the precious metal softened overseas.

However, silver stayed off-colour due to absence of necessary follow-up support from industrial units, which fell Rs 100 to Rs 37,800 per kg.

Globally, gold was trading 0.18 per cent down at $1,185.40 an ounce in London. In the national capital, gold of 99.9 per cent and 99.5 per cent purity held steady at Rs 27,250 and Rs 27,100 per 10 grams, respectively.

Sovereign followed suit and stayed unchanged at Rs 23,700 per piece of 8 grams.

On the other hand, silver ready traded lower by Rs 100 at Rs 37,800 per kg, but weekly-based delivery inched up by Rs 5 to Rs 37,940 per kg.

Silver coins, however, continued to be traded at last level of Rs 56,000 for buying and Rs 57,000 for selling for 100 pieces.