Gold prices remained steady

Gold prices remained steady on Wednesday after several successive days of slide, said an industry official.

"Gold prices today (Wednesday) remained at yesterday's (Tuesday) levels. The price remained at Rs.2,360 per gram (22 carat)," Madras Jewellers and Diamond Merchants Association president Jayantilal Challani told IANS here.

However, he said the prices would go down further and has not bottomed out.

On the other hand, silver prices here went up very marginally to Rs.36.15 per gram from Rs.36.05 per gram on Wednesday.

"Long chains and neck pieces will dominate the contemporary jewellery scene, preferred by the empowered working class," Suraj Shantakumar, director - business strategy, Kirtilals told IANS.

Jewellers said prices of diamonds cannot be uniform and depend on size, colour, carat and clarity.

According to Challani, around 30,000 jewellery shops would remain closed on Thursday as a mark of respect to former president A.P.J.Abdul Kalam who died on July 27 and whose last rites will be held at Rameswaram on Thursday.