Gold steady amid poor off-take; silver softens
Standard gold concluded at Rs 28,150 per 10 grams; Silver eased at Rs 45,275
Mumbai: Gold prices displayed a virtually steady trend in an otherwise lacklustre bullion market here on June 28 due to lack of local buying support at existing levels. On the other hand, silver moved down marginally on sluggish industrial demand.
Standard gold (99.5 purity) and pure gold (99.9 purity) both concluded at their overnight levels of Rs 28,150 and Rs 28,300 per 10 grams, respectively. Silver (.999 fineness), however, eased by Rs 10 per kilo to Rs 45,275 as compared to Friday's closing level of Rs 45,285. Meanwhile, the yellow metal rebounded in overseas trade on safe-haven spirit amid worsening geopolitical conditions as well as dollar weakness.
Gold for August delivery rose to settle at USD 1,320 an ounce on the Comex division of the NYMEX late yesterday, while July silver edged lower to USD 21.08 an ounce.