1. Gold holds steady, silver recovers

Gold holds steady, silver recovers

Gold prices held steady at yesterday's level of Rs 28,420 per 10 grams at the bullion market here today in the absence of any buying support from stockists and investors amid a weak trend overseas.

By: | Mumbai | Updated: February 18, 2016 7:13 PM

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Gold prices held steady at yesterday’s level of Rs 28,420 per 10 grams at the bullion market here today in the absence of any buying support from stockists and investors amid a weak trend overseas.

However, silver recovered mildly by Rs 55 on renewed offtake by industrial units.

Standard gold (99.5 purity) held steady at Rs 28,420 per 10 grams.

Pure gold (99.9 purity) also ruled unaltered at Rs 28,570 per 10 grams.

Silver (.999 fineness) rose by Rs 55 to conclude at Rs 37,295 per kg as against Rs 37,240.

Globally, gold eased as a run higher in equities tempered upward momentum in the precious metal, though uncertainty over the direction of US monetary policy supported prices above USD 1,200 an ounce.

Spot gold was down 0.4 percent at USD 1,204.11 an ounce in early trade, while US gold futures for April delivery were down 0.6 per cent at USD 1,204.30.

While, silver was down 0.4 per cent at USD 15.22 an ounce.

Tags: Gold
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