Mumbai: Gold prices continued to rule firm
at the bullion market here today due to strong demand from
stockists and retailers.
However, silver remained under selling pressure for the
second day and shed Rs 30 per kg due to reduced offtake by
industrial units.
Standard gold (99.5 purity) climbed by Rs 40 to end at
Rs 29,520 per 10 grams from Thursday's level of Rs 29,480.
Pure gold (99.9 purity) also rose by the same amount to
finish at Rs 29,670 per 10 grams from Rs 29,630.
However, silver (.999 fineness) dipped by Rs 30 per kg
to conclude at Rs 39,545 as against Rs 39,575.
Globally, gold prices were on track for their first
weekly rise in a month after uncertainty over US tax reform
pushed stock markets lower and weakened the dollar, making
bullion cheaper for holders of other currencies.
Spot gold was flat at USD 1,284.37 an ounce at early
trade but up 1.2 per cent this week after touching USD
1,288.34 on Thursday, the highest since October 20.
In other precious metals, silver was flat at USD 16.99
an ounce but was on track for a 1.1 per cent gain this week,
its first weekly rise in four weeks.
