LM: Gold ends steady; silver recovers on industrial demandZ
New Delhi: After three-day losing run, gold prices held steady at Rs26,500 per ten grams in Delhi bullion market on Friday on scattered buying activity by jewellers. Traders said some buying by jewellers at prevailing levels helped gold prices to end steady.
Gold in Londaon, which normally determines price trend on the domestic front, was up by 0.28% to $1,169 an ounce in early trade today.
In the national capital, gold of 99.9 and 99.5% purity ended steady at Rs26,500 and Rs 26,350 per ten grams, respectively. Sovereign followed suit and closed flat at Rs 23,300 per piece of eight gram.
On the other hand, silver ready recovered by Rs250 to Rs36,000 per kg, supported by increased offtake by industrial units and coin makers. Silver weekly-based delivery rose by Rs320 to Rs35,500 per kg.
Silver coins also spurted by Rs1,000 to Rs54,000 for buying and Rs55,000 for selling of 100 pieces upsurge in demand.