Gold firms up on seasonal uptick; silver ends steady

By: |
Mumbai | Published: April 24, 2015 6:32:43 PM

Gold prices regained some lost ground at the domestic bullion market here due to renewed buying interest from jewellery stockists...

Gold prices firmPure gold (99.9 purity) also edged up by a similar margin to settle at Rs 26,905 per 10 grams from Rs 26,845. (Reuters)

Gold prices regained some lost ground at the domestic bullion market here due to renewed buying interest from jewellery stockists as well as wedding season offtake, notwithstanding sluggish trends in overseas.

While, silver witnessed a sharp contraction during the trade and ended virtually stable in the absence of necessary buying support.

Standard gold (99.5 purity) rose by Rs 60 to end at Rs 26,755 per 10 grams from Thursday’s level of Rs 26,695.

Pure gold (99.9 purity) also edged up by a similar margin to settle at Rs 26,905 per 10 grams from Rs 26,845.

Silver (.999 fineness) closed unaltered at Rs 36,850 per kg.

The shiny-metal succumbed to further intense selling pressure in worldwide trade following overnight recrod breaking rally in US equity markets on the back of strong corporate earnings.

However, a weaker dollar as well as downbeat US macro data amid ongoing uncertainty over the Greek debt crisis, restricted the metal’s slide.

Spot gold was substantially lower at USD 1,187.50 an ounce in early European trade, while spot silver quoted weak at USD 15.78 an ounce.

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