Gold prices edge up on mild demand, silver declines
umbai: Gold prices moved up marginally at the bullion market here on Wednesday on mild demand by jewellers stockist and retailers. While, silver snapped its two-day gains owing to lacklustre industrial offtake.
Standard gold (99.5% purity) edged up by Rs10 to finish at Rs29,395 per 10 gram from Tuesday’s level of Rs29,385. Pure gold (99.9% purity) also moved up by a similar margin to Rs29,545 per 10 gram as against Rs29,535 previously. However, silver (.999 fineness) fell by Rs230 to close at Rs41,775 per kg as compared to Rs42,005 earlier.
Globally, gold spun its wheels early on Tuesday as a strong dollar kept a lid on gains but some analysts said bullion may get support from European political risks in coming months. Spot gold was unchanged at $1,211.81 an ounce in early trade after dipping in the previous session, while Silver fell to $16.62 per ounce.