Gold prices firmed up further at the
bullion market here today on sustained off-take by jewellery
stockists as well as good local buying support despite weak
Silver, on the other hand, slipped modestly owing to
reduced industrial demand.
Standard gold (99.5 purity) rose by Rs 60 to finish at
Rs 27,895 per 10 grams as compared to Thursday's closing level
of Rs 27,835.
Pure gold (99.9 purity) also climbed by a similar margin
to settle at Rs 28,045 per 10 grams from Rs 27,985 previously.
Silver (.999 fineness), however, moved down by Rs 95 to
conclude at Rs 45,135 per kg against Rs 45,230 yesterday.
On the global front, the shiny metal succumbed to heavy
unwinding from speculators and hedge funds to close six-weeks
low following better-than-expected US jobs data amid increased
speculation that the Fed will hike interest rates sooner than
Gold for August delivery slumped more than one per cent
to end at USD 1,281.30 an ounce on the Comex division of the
NYMEX late yesterday, while silver September delivery settled
at USD 20.41 an ounce.