New Delhi: A divergent trend was seen in the bullion market here on Friday as gold rose by Rs 75 to Rs 30,200 per 10 grams on seasonal buying, while silver shed Rs 500 to Rs 53,300 per kg on reduced offtake.
Marketmen said scattered buying by retailers for the coming festivals and marriage season mainly pushed up gold prices, while silver declined on reduced offtake by industrial units and coin makers.
Gold of 99.9 and 99.5 percent purity advanced by Rs 75 each to Rs 30,200 and Rs 30,000 per 10 grams, respectively. The metal had gained Rs 75 yesterday.
Sovereign continued to be asked at the last level of Rs 24,450 per piece of eight grams on scattered deals.
Silver, however, snapped four-day rising streak and lost Rs 500 to Rs 53,300 per kg and weekly-based delivery by Rs 520 to Rs 53,570 per kg. The metal has gained Rs 900 in last four sessions.
Silver coins also fell by Rs 1,000 to Rs 62,000 for buying and Rs 63,000 for selling of 100 pieces on account of sluggish demand.
First Published: Friday, July 6, 2012, 15:35