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Gold trades listless; silver recovers moderately

Last Updated: Monday, July 8, 2013 - 18:51

Mumbai: Gold prices moved down further at the bullion market here on Monday amid slack demand from stockists and traders as well as subdued local buying interest, despite gains in the international market.

Silver recovered moderately owing to fresh speculative demand on the back of good industrial demand.

Standard gold of 99.5 percent purity slipped by Rs 15 to close at Rs 26,135 per 10 gm from last Saturday's closing level of Rs 26,150.

Pure gold of 99.9 percent purity also eased by similar margin to conclude at Rs 26,270 per 10 gm from Rs 26,285.

However, silver ready (.999 fineness) rose by Rs 115 to finish at Rs 41,255 per kg from Rs 41,140 last weekend.

Overseas, gold edged up on investors' buying at lower levels after its two-day slide caused by rising concerns over US Central Bank tapering its monetary stimulus, though gains were capped by surging dollar.

In London, spot gold was bid higher USD 1,226.70 an ounce in early trade and silver bid up at USD 18.96 an ounce.

PTI

First Published: Monday, July 8, 2013 - 18:51
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