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Gold ends flat, silver falls by Rs 350 on reduced offtake

Source : PTI
Last Updated: Tue, Oct 30, 2012 10:17 hrs
A customer tries on a gold necklace inside a jewellery showroom in Hyderabad

New Delhi: Gold ended flat at Rs 31,550 per 10 grams in the bullion market here on Tuesday on subdued buying interest, while silver lost Rs 350 to Rs 59,650 per kg on reduced demand from industrial units and coin makers.

Marketmen said reduced demand from traders as well as retail consumers mainly influenced the prices of precious metals here.

Gold of 99.9 and 99.5 per cent purity held steady at Rs 31,550 and Rs 31,350 per 10 grams, respectively.

Sovereign lacked necessary buying support and shed Rs 50 to Rs 25,450 per piece of eight grams.

Silver ready met resistance after two days of gains and declined by Rs 350 to Rs 59,650 per kg and weekly-based delivery by Rs 160 to Rs 59,500 per kg.

Silver coins continued to be enquired around previous level of Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.




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