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Business News/ Market / Stock-market-news/  Gold edges up on scattered buying; silver remains weak
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Gold edges up on scattered buying; silver remains weak

Gold of 99.9 and 99.5% purity were up by Rs10 each to Rs25,100 and Rs24,950 per ten grams, respectively

Globally, gold in Singapore slid 0.5% to $1,083.18 an ounce and silver by 0.5% to $14.67 an ounce. Photo: AFPPremium
Globally, gold in Singapore slid 0.5% to $1,083.18 an ounce and silver by 0.5% to $14.67 an ounce. Photo: AFP

New Delhi: Snapping its three-day losing streak, gold prices edged up by Rs10 to Rs25,100 per ten grams in Delhi bullion market on Friday on fresh buying by jewellers at prevailing levels even as the metal weakened overseas.

Traders said emergence of buying by jewellers and retailers at existing levels mainly helped gold prices to rise. The surge was however capped as the US economy expanded at a faster pace in the second quarter, bolstering expectations of a rate increase this year.

Globally, gold in Singapore slid 0.5% to $1,083.18 an ounce and silver by 0.5% to $14.67 an ounce.

In the national capital, gold of 99.9 and 99.5% purity were up by Rs10 each to Rs25,100 and Rs24,950 per ten grams, respectively. The precious metals had lost Rs400 in the previous three sessions. Sovereign, however, remained flat at Rs22,200 per piece of eight grams.

On the other hand, silver ready fell further by Rs50 to Rs34,000 per kg, while weekly-based delivery recovered by Rs35 to Rs33,815 per kg on some speculative buying. Meanwhile, silver coins held steady at Rs48,000 for buying and Rs49,000 for selling of 100 pieces.

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Published: 31 Jul 2015, 03:01 PM IST
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