Silver extends lossesas Gold firms up on good buying,
MUMBAI-INDIA (July 20) Gold prices firmed up further at the domestic bullion market on Saturday due to increased demand from stockists and jewellers amid steady investment offtake.
Silver continued its slide for the sixth straight day on the back of consistent unwinding by traders and speculators.
Standard gold of 99.5 per cent purity climbed up by Rs. 90 to finish at Rs. 26,885 per 10 gm from Friday’s closing level of Rs. 26,795.
Pure gold of 99.9 per cent purity rose by Rs. 105 to conclude at Rs. 27,030 per 10 gm from Rs. 26,925.
Silver ready (.999 fineness) moved down by Rs. 55 to end at Rs. 40,885 per kg as against Rs. 40,940 on Friday.
On the global front, gold rallied to a one-month high on easing near-term concerns over US stimulus pull-back as well as weakening Dollar value.
Gold for August delivery jumped $ 8.70 to settle at $ 1,292.90 an ounce on the Comex division of the NYMEX late on Friday.
Silver for September contract gained 7 cents to close at $ 19.46 an ounce