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Updated: December 28, 2010 09:47 IST

Gold up Rs. 20 on global cues, silver falls on reduced off-take

PTI
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A prospective customer looks at golden bangles at a jewellery outlet in Chennai. Photo: PTI
PTI
A prospective customer looks at golden bangles at a jewellery outlet in Chennai. Photo: PTI

Gold rose by Rs. 20 to Rs. 20,720 per 10 grams in the national capital today on fresh buying by retailers amid firm Asian trends, while silver fell by Rs. 50 to Rs. 44,850 per kg on reduced industrial off-take.

Market analysts said trading sentiment for gold turned bullish, as retail customers increased their holdings for the ongoing marriage season.

They said a firming trend in Asian regions, which normally sets prices on the domestic front, further influenced the trading sentiment. Gold gained 0.3 per cent to $ 1,385.95 an ounce in Seoul.

On the domestic front, gold of 99.9 per cent and 99.5 per cent purity rose by by Rs. 20 each to Rs. 20,720 and Rs. 20,600 per 10 grams, respectively. Sovereign held steady at Rs 16,750 per piece of eight grams in limited deals.

On the other hand, silver-ready declined by Rs. 50 to Rs. 44,850 per kg and weekly-based delivery by Rs. 20 to Rs. 44,400 per kg on speculator’s support.

Silver coins also lacked necessary buying support and traded lower by Rs. 100 to Rs. 49,300 for buying and Rs. 49,400 for selling of 100 pieces.

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