Gold prices recovered smartly at the domestic bullion market today on renewed off-take from stockists and investors as well as pick up in demand from from jewellery traders ahead of festival season.
Silver also surged on higher speculative off-take amidst industrial demand.
Standard gold (99.5 purity) rose by Rs 100 to end at Rs 29,980 per 10 grams from Tuesday\'s closing level of Rs 29,880.
Pure gold (99.9 purity) gained Rs 105 to conclude at Rs 30,115 per 10 grams from Rs 30,010 yesterday.
Silver ready (.999 fineness) zoomed by Rs 955 per kg to finish at Rs 54,370 as compared to Rs 53,415 previously.
In Europe, gold moved up in a listless trade amidst steady euro against the dollar on the back of investor cautiousness ahead of this week\'s European Central Bank meeting for further measures to tackle eurozone debt crisis.
Spot gold was bid up at USD 1,623.31 an ounce in early trade and silver was bid higher at USD 28.30 an ounce.
Source:http://www.indianexpress.com/news/gold-price-rebounds-on-renewed-demand-silver-also-surges/981964/
Tuesday, July 31, 2012
Monday, July 30, 2012
Gold, silver prices hold steady in thin trade
Both the precious metals, gold and silver, today held steady on restricted buying activity at prevailing higher price levels.
While gold closed flat at Rs 30,300 per 10 grams, silver traded at last close of Rs 53,000 per kg on reduced offtake by jewellers and industrial units at prevailing higher levels.
Traders said restricted buying activity at prevailing costly levels mainly kept the precious metals steady.
In the national capital, gold of 99.9 and 99.5 per centpurity remained steady at Rs 30,300 and Rs 30,100 per 10 grams, respectively. Sovereigns followed suit and ended unchanged at Rs 24,450 per piece of eight grams.
Similarly, silver-ready ruled steady at Rs 53,000 per kg, while weekly-based delivery declined by Rs 15 to Rs 53,235 per kg on lack of buying support.
Silver coins continued to be asked around previous level of Rs 62,000 for buying and Rs 63,000 for selling of 100 pieces.
Source:http://www.indianexpress.com/news/gold-silver-prices-hold-steady-in-thin-trade/981422/
While gold closed flat at Rs 30,300 per 10 grams, silver traded at last close of Rs 53,000 per kg on reduced offtake by jewellers and industrial units at prevailing higher levels.
Traders said restricted buying activity at prevailing costly levels mainly kept the precious metals steady.
In the national capital, gold of 99.9 and 99.5 per centpurity remained steady at Rs 30,300 and Rs 30,100 per 10 grams, respectively. Sovereigns followed suit and ended unchanged at Rs 24,450 per piece of eight grams.
Similarly, silver-ready ruled steady at Rs 53,000 per kg, while weekly-based delivery declined by Rs 15 to Rs 53,235 per kg on lack of buying support.
Silver coins continued to be asked around previous level of Rs 62,000 for buying and Rs 63,000 for selling of 100 pieces.
Source:http://www.indianexpress.com/news/gold-silver-prices-hold-steady-in-thin-trade/981422/
Saturday, July 28, 2012
Gold, silver prices fall on lower offtake
Gold prices declined modestly after witnessing a six-session uptrend at the domestic bullion market today due to reduced buying from retailers and investors.
Silver also slipped further on poor speculative interest amid subdued industrial demand.
Standard gold (99.5 purity) moved down by Rs 20 to end at Rs 29,890 per 10 grams from the overnight closing level of Rs 29,910.
Pure gold (99.9 purity) lost Rs 30 to close at Rs 30,030 per 10 grams from Rs 30,060.
Silver ready (.999 fineness) edged down by Rs 70 per kg to finish at Rs 53,330 compared to Friday’s close of Rs 53,400.
Meanwhile, gold continued to gain strength in overseas trade on expectations that central banks in the US and Europe will announce some stimulus measures at their meet next week.
Gold for August delivery gained $2.90 to settle at $1,618 an ounce on the Comex division of the NYMEX late yesterday.
September silver contract inched up marginally by 5 cents to $27.50 an ounce.
Source:http://www.thehindubusinessline.com/markets/commodities/article3696355.ece
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