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Gold gains sheen, silver turns weak

Press Trust of India  |  Mumbai 

Continuing uptrend for the third straight session, prices today rose by another Rs 100 per 10 grams at the market here on persistent buying by local jewellers, even as the weakened overseas.

Silver remained weak, however, and slipped by Rs 160 per kg on reduced offtake by industrial units.

Standard (99.5 purity) rose by Rs 100 per 10 grams to finish at Rs 29,530, from its overnight closing level of Rs 29,430.

Pure (99.9 purity) also gained by a similar margin to end at Rs 29,680 per 10 gram compared to Rs 29,580, previously.

Silver (.999 fineness) fell by Rs 160 to finish at Rs 38,545 per kg from yesterday's close of Rs 38,705.

Globally, gold drifted lower, weighed down by a firmer dollar on the back of concerns about instability in Europe, while a buoyant also sapped enthusiasm for

Spot gold was down 0.5 per cent at USD 1,314.51 an ounce at early trade.

Among other precious metals, spot silver fell 0.8 per cent to USD 17.01 an ounce.

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

First Published: Tue, January 09 2018. 18:20 IST