Gold remains weak on sluggish buying

Mumbai, PTI | Updated : 13 February 2015, 06:17 PM

Gold continued its bearish momentum  for the fourth straight session at the local bullion market due to reduced offtake from jewellers amid lack of local buying support at existing levels.

Silver also moved down further on sluggish industrial demand. Standard gold (99.5 purity) fell by Rs 30 to settle at Rs 27,075 per 10 grams against Thursday's closing level of Rs 27,105.

Pure gold (99.9 purity) also lost by a similar margin to finish at Rs 27,225 per 10 grams comped to Rs 27,255.

Silver (.999 fineness) declined by Rs 35 to conclude at Rs 38,415 per kg from overnight level of Rs 38,450.

On the global front, yellow-metal gained further ground following disappointing US economic data and also weak dollar value.

Spot gold was higher at USD 1,224.70 an ounce in early European trade, while silver rose at USD 16.89 an ounce. 

First Published: Friday, February 13, 2015 06:13 PM
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