Gold prices end lower, silver extends gain in Mumbai
Mumbai: Gold edged lower in listless trade at the bullion market in Mumbai Tuesday due to lack of buying interest from stockists and retailers.
However, silver maintained its rising trend and firmed up by Rs55 per kg on increased offtake by industrial units. Standard gold (99.5 purity) eased by Rs5 to close at Rs29,235 per 10 grams from Monday’s level of Rs29,240.
Pure gold (99.9 purity) also moved down by a similar margin to finish at Rs29,385 per 10 grams as against Rs29,390 earlier. Silver (.999 fineness) rose by Rs55 to end at Rs38,925 from Rs38,870 earlier.
Globally, gold steadied amid a slightly weaker dollar, but the precious metal remained largely in a holding pattern as investors awaited central bank meetings, US payrolls data and the announcement of the next Federal Reserve chair. Spot gold was little changed at $1,275.69 per ounce at early trade. Among other precious metals, silver edged up 0.1% at $16.86 an ounce.