Gold ends steady; silver remains weak on reduced offtake

Wednesday, Dec 30, 2015,15:07 IST By Metrovaartha A A A

New Delhi | Gold prices ended flat at Rs 25,650 per 10 grams at the bullion market today on scattered buying from jewellers even as the metal strengthened overseas.

On the other hand, silver remained under pressure and fell further by Rs 100 to Rs 33,550 per kg on reduced offtake by industrial users and coin makers.

Traders said restricted buying from jewellers and retailers kept gold prices steady. Globally, gold rose 0.2 per cent to USD 1,070.90 an ounce in Singapore as investors focused on the outlook for 2016.

In London, it was trading a shade lower at USD 1,068.20 an ounce in early deals. In the national capital, gold of 99.9 per cent and 99.5 per cent purity ruled steady at Rs 25,650 and Rs 25,500 per 10 grams, respectively.

The precious metal had gained Rs 45 yesterday. Sovereign, however, remained unaltered at the previous level of Rs 22,200 per piece of eight grams on little doing.

On the other hand, silver ready shed another Rs 100 to Rs 33,550 per kg and weekly-based delivery by Rs 155 to Rs 33,590 per kg. Meanwhile, silver coins were unchanged at Rs 48,000 for buying and Rs 49,000 for selling of 100 pieces.