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Gold recovers on modest demand, silver declines

Feb 14 2013, 19:39 IST
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Silver ready fell by Rs 130 to close at Rs 58,220 per kg from Rs 58,350 yesterday. (Reuters) Silver ready fell by Rs 130 to close at Rs 58,220 per kg from Rs 58,350 yesterday. (Reuters)
SummarySilver ready fell by Rs 130 to close at Rs 58,220 per kg from Rs 58,350 yesterday.

Gold prices recovered after three-session losing spree at the bullion market here today on modest low-level buying interest from traders and retailers.

Silver, however, declined following speculative selling on the back of reduced industrial demand.

Standard gold of 99.5 per cent purity rose by Rs 70 per 10 gm to end at Rs 30,280 from Wednesday's closing level of Rs 30,210.

Pure gold of 99.9 per cent purity also gained Rs 70 per 10 gm to conclude at Rs 30,415 from Rs 30,345.

However, silver ready (.999 fineness) fell by Rs 130 to close at Rs 58,220 per kg from Rs 58,350 yesterday.

At the global front, gold traded flat as investors played safe following weak eurozone data indicated deeper European economic recession weighing down euro and equities.

In Europe, spot gold was largely unchanged at USD 1,641.79 an ounce in early trade, while silver was bid up at USD 30.85 an ounce.

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