Gold takes a pause, silver firm-up on speculation

Oct 28 2013, 18:43 IST
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Pure gold of 99.9 per cent purity went-down to close at Rs 32,095 per 10 grams. (AP) Pure gold of 99.9 per cent purity went-down to close at Rs 32,095 per 10 grams. (AP)
SummaryGold of 99.5 pct purity moved-down by Rs 70 to end at Rs 31,945 per 10 grams.

Gold Price took a pause after its seven- session climbing-spree and eased by Rs 70 per 10 grams at the domestic bullion market here following modest profit-taking from stockists and traders as well as reduced local buying at the existing higher levels.

Silver firmed-up further on good speculative-offtake supported by higher industrial demand.

Standard gold of 99.5 per cent purity moved-down by Rs 70 to end at Rs 31,945 per 10 grams from last Saturday's closing level of Rs 32,015.

Pure gold of 99.9 per cent purity also went-down by a similar margin to close at Rs 32,095 per 10 grams as compared to Rs 32,165.

However, silver ready (.999 fineness) gained by Rs 90 to conclude at Rs 50,630 per kilo from Rs 50,540 last weekend.

At the International market, gold price moved down, though hovering near five-week highs on rising faith over the US Federal Reserve would continue its bullion-friendly stimulus measures at a policy meeting later this week.

Spot gold was bid down at USD 1,350.86 an ounce in early trade, while spot silver bid higher at USD 22.58 an ounce.

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