Gold recovers moderate ground on local buying

Gold recovers moderate ground on local buying
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First Published: Tue, Aug 14 2007. 04 34 PM IST
Updated: Tue, Aug 14 2007. 04 34 PM IST
PTi
New Delhi: In an otherwise steady bullion market, gold prices recovered marginally on 14 August, on scattered demand from local parties and closed with a moderate gain of Rs10 at Rs 8,960 per ten grams.
Marketmen said there was restricted activities in the market ahead of Independence Day, but the prices kept moving in tight range.
Global markets, which normally set a price band in local market, failed to influenced the market sentiment here. Gold dropped $1.40 to $668.10 an ounce in London while silver fell 3.5 cents to 12.76 an ounce in the overseas.
Standard gold and ornaments gained Rs 10 each at Rs8,960 and Rs8,810 per ten grams respectively, while sovereign remained unaltered at Rs7,600 per piece of eight gram.
On the other hand, silver ready and weekly-based delivery prices settled around last levels of Rs17,550 and Rs17,600 per kilo respectively, after moving in narrow range on alternate bout of trading activities.
Silver coins also unchanged at Rs23,500 for buying and Rs23,600 for selling of 100 coins in line with silver.
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First Published: Tue, Aug 14 2007. 04 34 PM IST
More Topics: Bullion | gold | silver | Money Matters | Commodities |