Gold firms up on good buying; silver extends losses

Mumbai, PTI | Updated : 20 July 2013, 07:29 PM

Gold prices firmed up further at the domestic bullion market on Saturday due to increased demand from stockists and jewellers amid steady investment off-take.

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 one-month high on easing near-term concerns over US stimulus pull-back as well as weakening dollar value.

Gold for August delivery jumped USD 8.70 to settle at USD 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 USD 19.46 an ounce.

First Published: Saturday, July 20, 2013 07:28 PM

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