Gold steady amid poor off-take; ends the week at Rs 28,300

Gold prices displayed a virtually steady trend in an otherwise lackluster bullion market here Saturday due to lack of local buying support at existing levels.

PTI| Updated: Jun 28, 2014, 17:10 PM IST

Mumbai: Gold prices displayed a virtually steady trend in an otherwise lackluster bullion market here Saturday due to lack of local buying support at existing levels.

On the other hand, silver moved down marginally on sluggish industrial demand.

Standard gold (99.5 purity) and pure gold (99.9 purity) both concluded at their overnight levels of Rs 28,150 and Rs 28,300 per 10 grams, respectively.

Silver (.999 fineness), however, eased by Rs 10 per kilo to Rs 45,275 as compared to Friday's closing level of Rs 45,285.

Meanwhile, the yellow metal rebounded in overseas trade on safe-haven spirit amid worsening
geopolitical conditions as well as dollar weakness.

Gold for August delivery rose to settle at USD 1,320 an ounce on the Comex division of the NYMEX late yesterday, while July silver edged lower to USD 21.08 an ounce.