Gold softens on muted demand, silver eases

9 Feb 2017

Gold prices eased by Rs 15 per 10 grams Thursday owing to slackened demand from investors and stockists.
Silver too drifted lower by Rs 95 per kg due to subdued offtake from consuming industries.
Standard gold (99.5 purity) eased by Rs 15 to close at Rs 29,405 per 10 grams from Wednesday's level of Rs 29,420.
Pure gold (99.9 purity) also moved down by a similar margin to finish at Rs 29,555 per 10 grams as against Rs 29,570 earlier.
Silver (.999 fineness) moved down by Rs 95 per kg to conclude at Rs 42,650 as against Rs 42,745 on Wednesday.
Globally, gold declined, while holding near 3-month highs as political risks from elections in Europe and worries over US President Donald Trump's policies buoyed safe haven demand for the bullion.
Spot gold eased 0.1 percent to USD 1,240 per ounce at early trade. On Wednesday, the metal touched its highest since Nov 11 at USD 1,244.67.
Spot silver fell 0.3 percent to USD 17.72 an ounce after hitting its best since Nov 11 at USD 17.86 in the previous session. (PTI)