Gold ends flat; silver zooms by Rs 850 on stockists buying

Gold ends flat; silver zooms by Rs 850 on stockists buying New Delhi: Gold prices closed unchanged at Rs 31,500 per 10 grams in the bullion market here on Thursday, while silver shot up by Rs 850 to Rs 60,250 on buying by stockists amid higher global advices.

Traders said lack of buying support at existing higher levels kept gold flat, while increased buying by dealers for the festive as well as the wedding season led to a rise in silver's price.

Besides, a firming trend overseas in silver also influenced the sentiment, they said.

In Singapore, silver gained 0.8 per cent to USD 32.49 an ounce, the highest since October 19.

Back home, gold of 99.9 and 99.5 per cent purity remained steady at Rs 31,500 and Rs 31,300 per 10 grams, respectively.

Sovereigns were also enquired at last level of Rs 25,450 per piece of eight grams on limited deals.

Silver ready spurted by Rs 850 to Rs 60,250 per kg, while weekly-based delivery added Rs 495 to Rs 60,085 per kg.

Silver coins remained unchanged at Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.

PTI