Gold price ends flat, silver price falls on reduced offtake

Gold prices ended flat at Rs 31,100 per 10 grams in scattered deals, while silver fell by Rs 500 to Rs 58,000 per kg here today on reduced offtake by industrial units amid a weak global trend.

Traders said scattered deals at prevailing higher levels mainly kept gold prices steady.

They said reduced offtake by industrial units and coin makers and a weak global trend kept pressure on silver.

Globally, the silver declined by 1.6 per cent to USD 30.40 an ounce and gold by one per cent to USD 1,660.60 an ounce in New York last night.

On the domestic front, gold of 99.9 and 99.5 per cent purity held steady at Rs 31,100 and Rs 30,900 per 10 grams, respectively. Sovereigns also remained unchanged at Rs 25,400 per piece of eight grams.

However, silver ready fell by Rs 500 to Rs 58,000 per kg and weekly-based delivery by Rs 395 to Rs 58,185 per kg.

Silver coins continued to be asked around previous level of Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces.

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