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Wednesday, July 18, 2018

Gold ends flat,silver eases in listless trade

Standard gold of 99.5 pct purity ruled stable to close at yesterday's level of Rs 29,520 per 10 gm.

Written by PTI | Mumbai | Published: August 14, 2013 6:44:39 pm

Gold traded listless to end almost flat at the domestic bullion market amid subdued demand from stockists and traders and lack of local buying interest at the existing levels.

However,silver eased slightly in the absence of any major buying.

Standard gold of 99.5 per cent purity ruled stable to close at yesterday’s level of Rs 29,520 per 10 gm.

Pure gold of 99.9 per cent purity edged up by a modest Rs 15 to conclude at Rs 29,675 per 10 gm from Rs 29,660.

However,silver ready (.999 fineness) slipped by Rs 25 to finish at Rs 47,010 per kg from 47,035 previously.

“Trading is dull on the eve of independence holiday coupled with weak rupee and yesterday’s third import duty hike this year added the weariness,” dealers said.

Gold moved up overseas after previous session drop,though steady dollar and speculation over US Federal Reserve tapering capped gains.

In London,spot gold was bid higher at USD 1,324.86 an ounce in early trade and silver also bid up at USD 21.51 an ounce.

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