Gold edges up on jewellers' buying; silver falls on low demand

New Delhi: Gold prices rose by Rs 20 to Rs 26,350 per 10 grams at the bullion market on scattered buying by jewellers even as metal weakened in overseas markets. Silver, however, declined by Rs 100 to Rs 35,650 per kg on reduced offtake by industrial units and coin makers along with a weak global trend. Traders said the rise in gold prices was mostly attributed to scattered buying by jewellers but the metal's weakness overseas, limited the gains. Globally, gold lost 0.8 per cent to USD 1,154.60 an ounce and silver fell 0.6 per cent to USD 15.48 an ounce in Singapore.    

In the national capital, gold of 99.9 and 99.5 per cent purity edged up by Rs 20 each to Rs 26,350 and Rs 26,200 per 10 gram respectively. Sovereign, however, maintained a steady trend at Rs 23,000 per piece of eight gram. On the other hand, silver ready fell by Rs 100 to Rs 35,650 per kg and weekly by Rs 150 to Rs 35,465 per kg.    

Meanwhile, silver coins continued to be traded at previous level of Rs 53,000 for buying and Rs 54,000 for selling of 100 pieces.