Gold edges up in thin trade, silver remains steady

Gold prices edged up by Rs 10 to Rs 28,900 per 10 gm in the national capital today on scattered buying by retailers for the ongoing wedding season amid a firming global trend.

However, silver held steady at Rs 56,600 per kg in the absence of worthwhile support.

Buying activity in gold picked up on local buying and a firming trend in overseas market as European debt crisis raised demand for the precious metal.

Gold in global markets, which normally set price trend on the domestic front, rose 0.1 per cent to USD 1,642.98 an ounce in London.

In addition, local buying by retail customers for the ongoing marriage season further influenced the gold prices.

The gold of 99.9 and 99.5 per cent purity rose by Rs 10 each to Rs 28,900 and Rs 28,760 per 10 gm, respectively. However, sovereign remained steady at Rs 23,500 per piece of eight gram.

On the other hand, silver ready ended flat at Rs 56,600 per kg while weekly-based delivery gained Rs 95 to Rs 56,300 per kg on speculative buying. Silver coins continued to be asked around previous level of Rs 63,000 for buying and Rs 64,000 for selling of 100 pieces. – PTI

Tags: Silver, Silver future prices, silver futures, silver price, silver price 2012, silver price forecast, silver prices

Posted by Silver Guru on Apr 19 2012. Filed under Silver prices. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry