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Gold eases in listless trade, silver strengthens

Source : PTI
Last Updated: Sat, Jan 19, 2013 11:16 hrs
A worker counts gold bangles at a jewellery-making workshop in Jammu

In a listless trade, gold eased further at the domestic bullion market today on subdued off- take from stockists and lack of local buying interest at the prevailing levels amidst lower global trend.

In contrast, silver strengthened on sustained speculative demand amid higher buying by industrial users.

Standard gold of 99.5 per cent purity declined by Rs 30 to end at Rs 30,415 per 10 gm from Friday's closing level of Rs 30,445.

Pure gold of 99.9 per cent purity also went down by a similar margin to close at Rs 30,555 per 10 gm from Rs 30,585.

However, silver ready (.999 fineness) climbed up by Rs 105 to conclude at Rs 59,415 per kg as compared to Rs 59,310 previously.

In the overseas markets, gold slipped on bouts of buying and selling amid strong dollar, though recent positive data from China and US spurred investor demand.

In New York, February gold declined by USD 3.80 to USD 1,687 an ounce on the Comex division of the NYMEX late yesterday. March silver contract ended up by 12 cents to USD 31.93 an ounce.




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