Gold begins New Year on a steady note; silver falls

Source: The Hitavada      Date: 03 Jan 2017 09:27:15


Jan 2,


GOLD prices ended steady at Rs 28,300 per ten grams on the first trading day of 2017 on scattered demand from local jewellers. However, silver declined by Rs 100 to Rs 39,300 per kg owing to reduced offtake by industrial units. Traders said absence of cues from global markets which are closed, mainly kept gold prices unaltered here.
In the National Capital, gold of 99.9 and 99.5 per cent purity ruled flat at Rs 28,300 and Rs 28,150 per 10 grams, respectively. It had lost Rs 200 on the last trading session of 2016 on Saturday.
Sovereign, however, traded at the last level of Rs 24,000 per piece of eight grams in limited deals. On the other hand, silver ready drifted lower by Rs 100 to Rs 39,300 per kg, while weekly-based delivery rose by Rs 495 to Rs 39,195 per kg.