Gold logs weekly gain of Rs 195 per 10 grams

Last Updated: Sunday, July 7, 2013 - 09:40

New Delhi: Gold prices ended higher in the bullion market during the past week on increased buying by stockists while silver lacked necessary buying support and surrendered moderate ground.

Traders said increased buying by stockists and weakening rupee which make the import costlier mainly led to rise in gold prices.

In the national capital, gold of 99.9 and 99.5 percent purity commenced higher on fresh buying and climbed to Rs 26,830 and Ra 26,630 per 10 grams, respectively.

Later, it met with resistance and slipped to close at Rs 26,625 and Rs 26,425, still higher by Rs 195 each from the previous week's close.

Sovereigns also seen in demand and shot up by Rs 400 to Rs 24,000 per piece of eight grams.

On the other hand, in volatile movements, silver ready lost Rs 570 at Rs 40,430 per kg while weekly-based delivery rose marginally by Rs 20 to Rs 40,270 per kg during this week.

On the other hand, silver coins spurted by Rs 1,000 to Rs 78,000 for buying and Rs 79,000 for selling of 100 pieces.

PTI

First Published: Saturday, July 6, 2013 - 16:22

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