Gold prices steady; silver slips

7 Jul 2017

Gold prices ruled steady in a largely quiet trade at the bullion market here Friday on muted offtake by jewellers and investors even as the metal weakened overseas.
Silver slipped below the crucial Rs 37,000-mark by falling Rs 370 to Rs 36,910 per kg due to reduced offtake by industrial units and coin makers.
Standard gold (99.5 purity) closed at its overnight level of Rs 28,085 per 10 grams.
Pure gold (99.9 purity) also settled at its previous level of Rs 28,235 per 10 grams.
Silver (.999 fineness) slumped by Rs 370 to conclude at Rs 36,910 as compared to Rs 37,280 previously.
Globally, gold ticked lower as a stronger US dollar and higher yields weighed on the market ahead of US jobs data later in the day that could give more clues about further rate increases.
Spot gold edged down 0.3 per cent to USD 1,221.06 per ounce at early trade. It has dropped 1.6 per cent this week and is set for its biggest weekly fall since the week of May 5.
Silver fell 1.2 per cent to USD 15.81 per ounce. (PTI)