Gold prices ended steady at the bullion market today in the absence of demand from stockists as well as local buying interest. Meanwhile, silver dropped further on consistent speculative selling following weak industrial demand. “Business is dull in yellow metal due to Easter holidays and expected to pick up soon as marriage season are due from next month,” a dealer said. Standard gold of 99.5 per cent purity ended stable at its overnight close of ` 29,605 per 10 gm.
While pure gold of 99.9 per cent finished almost flat by losing a marginal ` 5 to `29,735 per 10 gm from Thursday’s level of ` 29,740. Silver ready (.999 fineness) dipped by ` 205 to conclude at ` 54,360 per kg from ` 54,565 previously. On the global front, gold slipped on investor selling amid positive US fourth quarter growth data and organised opening of banks in Cyprus after its long two weeks closure. In New York, gold for June delivery fell $11.50 to $1,595.70 an ounce on the Comex division of the NYMEX late yesterday.
Silver for May contract declined 29 cents to $28.32 an ounce.
Source: Hindu business line.
Source: Bullion Bulletin