1. Gold price advances on good buying support; silver down

Gold price advances on good buying support; silver down

Gold price firmed up further at the domestic bullion market here today on sustained demand from jewellery stockists and retailers".

By: | Published: June 8, 2015 8:08 PM

Gold price firmed up further at the domestic bullion market here today on sustained demand from jewellery stockists and retailers.

In contrast, silver declined marginally owing to reduced offtake from consuming industries.

Standard gold (99.5 purity) rose by Rs 35 to conclude at Rs 26,615 per 10 grams from last Saturday’s closing level of Rs 26,580.

Pure gold (99.9 purity) also added by a similar margin to end at Rs 26,765 per 10 grams compared to Rs 26,730 previously.

However, silver (.999 fineness) eased by Rs 15 to settle at Rs 37,585 per kg against Rs 37,600 last weekend.

In worldwide trade, the yellow-metal weakened further on renewed concerns over the US Fed’s impending interest rate hike fears amid investors’ caution.

Spot gold was little changed at USD 1,173.5 an ounce in early European trading, while silver traded soft at USD 16.05 an ounce.

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