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Gold ends flat in lustreless trade, silver recovers

Source : PTI
Last Updated: Sat, Feb 02, 2013 11:27 hrs
The salesman displays gold bangles to a customer at a jewellery showroom in Chennai

Gold prices ended almost flat amid listless trade at the bullion market here today on lack of buying interest by traders and retailers.

In contrast, silver recovered smartly on good speculative off-take as well as renewed industrial demand.

Standard gold of 99.5 per cent purity edged down by Rs 5 per 10 gm to close at Rs 30,235 from Friday's closing level of Rs 30,240 and Pure gold of 99.9 per cent purity ended stable at its previous level of Rs 30,370 per 10 gm.

However, silver ready (.999 fineness) rose by Rs 595 to conclude at Rs 58,915 per kg as against Rs 58,320 yesterday.

In overseas, gold traded higher on weak dollar amid mixed US job data initiating safe haven buying, though upbeat US consumer figures and manufacturing activity capped gains.

In New York, gold for February delivery rose by USD 8.60 to USD 1,670.60 an ounce on the Comex division of the NYMEX late yesterday.

Silver for March contract gained 61 cents to USD 31.96 an ounce.




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