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Gold remains steady on fresh buying

Gold remains steady on fresh buying
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First Published: Tue, Mar 27 2007. 07 57 PM IST
Updated: Tue, Mar 27 2007. 07 57 PM IST
PTI
New Delhi: Gold remained firm on the bullion market on 27 March on steady inflow of buying by stockists and local parties and closed higher by Rs10 at Rs9,400 per ten grams.
Silver also attracted fresh buying from stockists and industrial users and recovered.
Trading activity remained restricted as traders were in festive mood due to ‘Ramnavmi´.
Marketmen said persistent buying by stockists in the wake of coming marriage season mainly pushed up both gold and silver prices.
They said the metal gained 1% on 26 March after crude oil climbed amid concerns that political tension between the UK and Iran may escalate over the seizure of 15 British military personnel.
Standard gold and ornaments remained in demand and gained another Rs10 each at Rs9,400 and Rs9,250 per ten gram respectively. Sovereign followed suit and rose by Rs25 at Rs7,825 a piece of eight gram.
Similarly, silver ready recovered by Rs100 at Rs19,550 a kilo on revival of buying while weekly-based delivery strengthened by Rs20 at Rs19,750 a kilo.
However, silver coins lacked necessary follow up support and lost Rs100 at Rs24,300 for buying and Rs24,400 for selling of 100 coins.
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First Published: Tue, Mar 27 2007. 07 57 PM IST
More Topics: Money Matters | Commodities |