Gold prices ease on poor stockists offtake, silver firms up | business | Hindustan Times
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Gold prices ease on poor stockists offtake, silver firms up

Gold prices eased by Rs 5 per 10 grams in a sparkless trade at the bullion market in Mumbai on Monday in the absence of local buying interest despite higher European advices.

business Updated: Mar 29, 2010 18:36 IST

Gold prices eased by Rs 5 per 10 grams in a sparkless trade at the bullion market in Mumbai on Monday in the absence of local buying interest despite higher European advices.

On the otherhand, silver firmed up further on persistent demand from industrial users.

Standard gold (99.5 purity) softened by Rs 5 per ten grams to close at Rs 16,375 from last Saturday's closing level of Rs 16,380.

Pure gold (99.9 purity) also looked down by a similar margin to finish at Rs 16,460 per 10 grams from 16,465.

However, silver ready (.999 fineness) shot up by Rs 170 per kilo to end at Rs 27,075 as against Rs 26,905 previously.

In London, spot gold rose to $1,110.45 an ounce in early trade as against $1,105.10 at New York notional close on Friday.

Silver was bid at $17.13 an ounce as against $16.85.