Gold price softens on poor offtake amid global uneasiness; Silver up

Jul 04 2014, 19:23 IST
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Gold price softened in listless trade at the bullion market.(Reuters) Gold price softened in listless trade at the bullion market.(Reuters)
SummarySilver, on the other hand, shot up further owing to consistent industrial demand coupled with good speculative off-take.

Gold price softened in listless trade at the bullion market here today due to lack of buying support from stockists and local investors.

Silver, on the other hand, shot up further owing to

consistent industrial demand coupled with good speculative

off-take.

Standard gold (99.5 purity) moved down by Rs 5 to end

at Rs 27,950 per 10 grams as compared to overnight level of

Rs 27,955.

Pure gold (99.9 purity) also eased by a similar margin to settle at Rs 28,100 per 10 grams from Rs 28,105.

Silver (.999 fineness), however, surged by Rs 235 to

conclude at Rs 45,360 per kilo against Rs 45,125 yesterday.

On the global front, the shiny metal retreated from three-month high spooked by a significantly higher-than-

anticipated jobs data as well as strong dollar, prompting

investors book profits after recent sharp upmove.

Gold for August delivery slumped to settle at 1,320.60$ an ounce on the Comex division of the NYMEX late

yesterday, while September silver contract declined to 21.14$ an ounce.

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