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Gold maintains listless trend, silver bullish

Press Trust of India  |  Mumbai 

Gold prices maintained its listless trend to decline further at the domestic bullion market here today on poor offtake by stockists and local buying interest on the back of dull global markets.

At overseas, a rally in US equities and comments from Federal Chairwoman Janet Yellen on expectation of Federal Reserve's hike later this year following signs of improved economy aided the weakening of gold's appeal.

However, silver continued to gain and reclaimed its key 36K level following good speculative demand as well as industrial buying.

Standard gold (99.5 purity) fell by Rs 30 to close at Rs 26,020 per 10 grams from Friday's closing level of Rs 26,050.

Pure gold (99.9 purity) was also dipped by a similar margin to conclude at Rs 26,170 per 10 grams from Rs 26,200.

However, silver (.999 fineness) rose by Rs 145 to finish at Rs 36,095 per kg as against Rs 35,950 yesterday.

In New York, gold for August delivery shed USD 1.30 in lacklustre late yesterday's trade to close at USD 1,157.90 an ounce. Meanwhile, September silver gained 12 cents to end at USD 15.481 an ounce.

First Published: Sat, July 11 2015. 17:02 IST