Gold firm; silver marginally up

Mumbai-India (Jan 12)  Gold prices gained slightly in a listless trade at the domestic bullion market here on mild local buying interest amid a firming trend overseas.

Elsewhere, silver also firmed up due to sustained demand from industrial users.

Standard gold (99.5 purity) looked up by Rs. 5 to end at Rs. 26,905 per 10 grams compared to last Saturday’s closing level of Rs. 26,900.

Pure gold (99.9 purity) also added by a similar margin to settle at Rs. 27,055 per 10 grams from Rs. 27,050.

Silver (.999 fineness) rose by Rs. 80 to conclude at Rs. 37,440 per kg as against Rs. 37,360 last weekend.

In worldwide trade, the yellow—metal rallied to one—month high sparked by safe—haven buying following weakness in the dollar and a further decline in oil prices.

Spot gold was higher at $1,220.16 an ounce in early European trading.

Source:  TheHinduBusinessLine