Gold ends week with marginal losses; closes at Rs 31,100 per 10 gm

Gold ends week with marginal losses; closes at Rs 31,100 per 10 gm New Delhi: Gold prices ended lower during the past week on stockists selling, sluggish demand, while silver found scattered buying support from industrial units and finish higher.

Traders said stockists selling on the back of sluggish demand at prevailing higher levels led to decline in gold prices.

They said some buying from industrial units helped silver to trade higher.

In the national capital, gold of 99.9 and 99.5 percent purity commenced lower and slipped further to Rs 30,840 and Rs 30,640 per 10 grams on stockists selling following subdued demand.

Later, on Friday it met with lower level buying and rebounded to settle at Rs 31,100 and Rs 30,900 per 10 grams, respectively, displaying a modest loss of Rs 40 each.

Sovereigns shed Rs 50 at Rs 25,400 per piece of 8 grams.

On the other hand, silver ready ended higher by Rs 100 to Rs 58,000 per kg and weekly-based delivery by Rs 245 to Rs 58,185 per kg during the week.

However, silver coins lacked necessary buying support at existing higher levels and fell by Rs 1,000 to Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces.

PTI