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Gold shines in Muhurat trade; silver loses lustre

Source : PTI
Last Updated: Sun, Nov 03, 2013 14:13 hrs
An employee arranges gold jewellery in the counter as her arm is reflected in the mirror at a gold shop in Wuhan

New Delhi: Gold on Sunday staged a modest rebound after its uninterrupted six-day losing streak while silver failed to glitter during the Muhurat session at the domestic bullion market here.

"Jewellery stockists and retail investors made token purchases of gold to mark the beginning of the new Hindu Samvat year 2070," a bullion trader said.

The industrial metal - silver - dropped owing to sluggish demand as well as lack of buying support.

Standard gold (99.5 purity) edged up by Rs 30 to finish at Rs 30,400 per 10 grams from Saturday's closing level of Rs 30,370.

Pure gold (99.9 purity) also gained by a similar margin to end at Rs 30,550 per 10 grams from Rs 30,520.

Silver ready (.999 fineness), however, slumped by Rs 130 to conclude at Rs 49,665 per kilo as compared to Rs 49,795 yesterday.




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