Gold eases on subdued buying,silver moves up

Gold prices edged down further at the bullion market here today due to lacklustre buying activity from local retailers and investors amidst sluggish global movements. In contrast,silver moved up on renewed industrial support. Standard gold of 99.5 per cent purity lost by Rs 10 to settle at Rs 28,500 per 10 grams from last Saturday’s […]

Written by Agencies | Mumbai | Published: February 27, 2012 8:14 pm

Gold prices edged down further at the bullion market here today due to lacklustre buying activity from local retailers and investors amidst sluggish global movements.

In contrast,silver moved up on renewed industrial support.

Standard gold of 99.5 per cent purity lost by Rs 10 to settle at Rs 28,500 per 10 grams from last Saturday’s closing level of Rs 28,510.

Pure gold of 99.9 per cent purity also softened by Rs 15 to end at Rs 28,625 per 10 grams from Rs 28,640.

However,silver ready (.999 fineness) gained by Rs 45 kg to conclude at Rs 58,160 as against Rs 58,115 last weekend.

In London,gold fell weighed down by concerns over euro-zone after the G20 meeting failed to provide reassurance about international help to crisis-struck Europe and ahead several bond auctions in Europe later today.

Spot gold was bid lower USD 1,773.04 an ounce in early trade.

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