Gold price eases on steady selling; silver recovers
Gold prices eased further at the bullion market here today on steady selling from stockists and traders.
In contrast, silver recovered smartly following speculative off-take, coupled with good industrial demand.
Standard gold of 99.5 per cent purity moved down by Rs 35 per 10 gram to finish at Rs 30,575 from Thursday's level of Rs 30,610.
Pure gold of 99.9 per cent purity also shed by Rs 40 per 10 gms to close at Rs 30,715 from Rs 30,755. However, silver ready (.999 fineness) rose by Rs 165 to end at Rs 59,505 per kg as against Rs 59,340 previously.
"Gold has been witnessing listless momentum and support since import duty hike," dealers said. In the global markets, gold ended lower on continued caution as well as lack of safe haven appeal amid upbeat global economic data.
In New York, gold for February fell USD 16.80 to USD 1,669.90 an ounce on the Comex division of the NYMEX late yesterday. Silver for March contract declined 72 cents to USD 31.72 an ounce.
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