Gold & Silver

Gold edges up on retail offtake; silver drops

PTI Mumbai | Updated on January 23, 2018 Published on April 11, 2015

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Gold prices advanced further at the domestic bullion market here today on sustained buying from retailers amid the ongoing wedding and festive season demand.

In contrast, silver dropped due to renewed speculative selling as well as subdued industrial buying support.

Standard gold (99.5 purity) firmed up by Rs 55 to end at Rs 26,650 per 10 gm from Friday’s closing level of Rs 26,595.

Pure gold (99.9 purity) also rose by a similar margin to settle at Rs 26,800 per 10 gm as against Rs 26,745.

However, silver (.999 fineness) shed Rs 270 to conclude at Rs 37,430 per kg compared to Rs 37,700 yesterday.

On the global front, the shiny metal snapped a three-day losing steak and closed firmly above the significant $1,200 mark on the back of mild short-covering despite stronger dollar and rallying equities.

Gold for June delivery soared to settle at $1,204.60 an ounce on the Comex division of the NYMEX late yesterday, while silver for May contract rose to $16.38 an ounce.

Published on April 11, 2015
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