Gold ends flat in lacklustre trade; silver firms up

New Delhi-India (Jan 24)  Gold prices ended almost flat at the domestic bullion market here today due to lack of demand from stockists and retailers amid weak international cues.

Elsewhere, silver firmed up further on the back of sustained demand from industrial users.

Standard gold (99.5 purity) eased by Rs. 5 to settle at Rs. 28,045 per 10 grams from the overnight level of Rs. 28,050.

Pure gold (99.9 purity) also softened by a similar margin to end at Rs. 28,195 per 10 grams against Rs. 28,200 previously.

Silver (.999 fineness), however rose Rs. 80 to finish at Rs. 40,580 per kg compared with Rs. 40,500 yesterday.

In worldwide trade, the yellow metal retreated from a five-month high on fresh selling pressure amid uncertainty ahead of the Greece election verdict and next week’s Federal Open Market Committee’s two-day meet.

Gold for February delivery settled lower at $1,292.60 an ounce on the Comex division of the NYMEX late yesterday, while silver March contract settled at $18.30 an ounce.

Source: TheHindu