Millennium Post

Gold climbs by Rs 155 to Rs 26,290/10 gm; silver drops

Gold severed its four-days downtrend at the bullion market on Tuesday on good offtake from stockists and traders and local buying interest at the existing low-levels, also supported by higher global cues.

Silver declined owing to speculative selling. Standard gold of 99.5 per cent purity rose by Rs 155 to end at Rs 26,290 per 10 gm from Monday’s closing level of Rs 26,135. Pure gold of 99.9 per cent purity also went up by Rs 160 to finish at Rs 26,430 per 10 gm from Rs 26,270.
However, silver ready (.999 fineness) fell by Rs 205 to close at Rs 41,050 per kg from Rs 41,255 previously.

‘Gold is witnessing some opportune low-level buying in the midst of off-season, though demand will pick-up from next month,’ dealers said. Globally, gold surged to one-week high on rise in Chinese inflation data, though dollar held below three-year high.In London, spot gold was bid up $1,250 an ounce in early trade and silver bid up at $19.15 an ounce.
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