Weekly review: Gold rises Rs 190; manages to regain 30K-level
New Delhi: The bullion market displayed a mixed trend during the past week as gold prices rose on fresh buying by stockists fuelled by a firm global trend while silver lacked necessary buying support and surrendered moderate ground.
Traders said some buying by stockists driven by a firm global trend mainly led to rise in gold prices.
However, reduced offtake by industrial units and coin makers kept pressure on silver, they said.
In the national capital, gold of 99.9 and 99.5 percent purity commenced higher at Rs 29,840 and Rs 29,640 and rose further to close at Rs 30,010 and Rs 29,810 per ten grams, showing gains of Rs 190 each.
Sovereign moved in a narrow range in limited deals and settled at last level of Rs 25,250 per piece of eight gram.
On the other hand, silver ready and weekly-based delivery moved both ways on alternate bouts of buying and selling and settled lower by Rs 575 and Rs 535 to Rs 54,475 and Rs 54,300 per kg, respectively.
Silver coins ended steady at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.