Gold continued its northward journey and scaled fresh high at the bullion market on Monday on good off—take by investors and stockists reinforced by higher global trend.

Silver, however, softened on speculative selling amid reduced industrial off—take.

Standard gold (99.5 purity) gained by Rs 35 to close at Rs 31,990 per 10 gm from last Saturday’s closing level of Rs 31,955.

Pure gold (99.9 purity) also firmed up by a similar margin to finish at Rs 32,130 per 10 gm from Rs 32,095.

However, silver ready (.999 fineness) slipped by Rs 40 per kg to conclude at Rs 62,890 as against Rs 62,930 last weekend.

In Europe, gold moved down slightly though it remained at six—month high as investors stayed on fence over expectations of Federal Reserve’s quantitative easing later this week after softer US jobs market report.

Spot gold was bid down at $1,730.30 an ounce in early trade and silver bid lower at $33.44 an ounce.

(This article was published on September 10, 2012)
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