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Gold ends lower, silver rules stable

Press Trust of India  |  Mumbai 

Gold edged lower in listless trade for the second session at the bullion market here today due to lack of buying interest from stockists and retailers.

Silver, however, held steady in the absence of any large scale buying activity.

Standard gold (99.5 purity) eased by Rs 5 to close at Rs 29,745 per 10 grams from last Friday's level of Rs 29,750.

Pure gold (99.9 purity) also moved down by a similar margin to finish at Rs 29,895 per 10 grams as against Rs 29,900 earlier.

Silver (.999 fineness) closed unchanged at last Friday's level of Rs 42,680 per kg.

Globally, gold edged higher, partly lifted by steady flows into exchange traded funds (ETFs) and a dip in the dollar after touching seven-month highs.

Spot gold was up 0.4 percent at USD 1,254.50 an ounce at early trade. The yellow metal fell nearly 0.6 percent on Friday to a low of USD 1,247.01, its weakest since Oct. 7.

Silver was flat at USD 17.38 a ounce.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, October 17 2016. 18:02 IST