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Gold extends gains on good buying support; silver firms up

Last Updated: Saturday, May 25, 2013 - 16:41

Mumbai: Gold prices improved further at the domestic bullion market here Saturday on sustained low-level demand amid wedding season offtake.

Silver also firmed up owing to steady industrial demand.

Standard gold of 99.5 percent purity edged higher by Rs 55 to end at Rs 26,525 per 10 gm from Friday's closing level of Rs 26,470.

Pure gold of 99.9 percent purity moved up by Rs 30 to finish at Rs 26,655 per 10 gm from Rs 26,625.

Silver ready (.999 fineness) strengthened by Rs 115 to conclude at Rs 44,700 per kg as against Rs 44,585 yesterday.

Meanwhile in overseas, the shiny metal ended modestly lower on investors selling ahead of a long US weekend despite weak dollar valuation.

Gold for June delivery fell USD 5.30 to settle at USD 1,387.50 an ounce on the Comex division of the NYMEX late yesterday.

Silver July contract softened to close at USD 22.50 an ounce.


First Published: Saturday, May 25, 2013 - 16:38
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