Gold regains on buying; silver remains weak

30 Jan 2018

Gold gained Rs 120 at Rs 31,240 per 10 grams at the bullion market on Tuesday, snapping a two-day losing streak on fresh buying by local jewellers to meet the ongoing wedding season demand.
Silver however remained under selling pressure and eased further by Rs 400 to Rs 40,050 per kg.
Traders said pick up in buying by local jewellers to meet wedding season demand at domestic spot market, mainly led to the recovery in gold prices but a weak trend overseas capped the gains.
In Singapore, gold fell 0.34 per cent to USD 1,335.40 an ounce and silver by 0.35 per cent to USD 17.06 an ounce.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity bounced back by Rs 120 each to Rs 31,240 and Rs 31,090 per 10 grams, respectively. It had lost Rs 330 in the previous two sessions.
Sovereign, however, continued to be traded at the previous level of Rs 24,800 per piece of eight grams.
On the other hand, silver ready dropped further by Rs 400 to Rs 40,050 per kg and weekly-based delivery by Rs 805 to Rs 39,075 per kg. (PTI)