Gold recovers moderate ground on local buying

Gold recovers moderate ground on local buying


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 0 at 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 10 each at ,960 and ,810 per ten grams respectively, while sovereign remained unaltered at ,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.