Gold remains steady on scattered buying; silver recovers

Mumbai-India (Mar 13)  Gold prices remained steady at Rs. 26,320 per 10 grams at the bullion market on Friday on scattered buying by jewellers and retailers even as the precious metal strengthened overseas.

Silver, however, recovered marginally by Rs. 20 to Rs. 35,800 per kg on some enquiries from industrial units.

Traders said restricted buying activity by jewellers and retailers mainly kept gold prices steady.

Globally, gold climbed 0.7 per cent to $1,161.85 an ounce in Singapore.

In the national capital, gold of 99.9 and 99.5 per cent purity held steady at Rs. 26,320 and Rs. 26,120 per 10 grams, respectively.

Sovereign followed suit and traded at last level of Rs. 23,600 per piece of eight gram.

On the other hand, silver ready rose by Rs. 20 to Rs. 35,800 per kg and weekly-based delivery by Rs. 200 to Rs. 35,475 per kg.

Silver coins, however, faced some selling pressure and plunged by Rs. 1,000 to Rs. 55,000 for buying and Rs. 56,000 for selling of 100 pieces.

Source: TheHindu