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This is an archive article published on July 16, 2012

Gold price moves up on investor off-take,silver dips

Gold prices moved up in a listless trade at the domestic bullion market today mainly on mild investors and traders off-take,on the back of steady overseas cues.

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Gold prices moved up in a listless trade at the domestic bullion market today mainly on mild investors and traders off-take,on the back of steady overseas cues.

However,silver slid further owing to speculative selling amidst subdued industrial demand.

Standard gold (99.5 purity) gained by Rs 30 to end at Rs 29,220 per 10 gm from last Saturday’s closing level of Rs 29,190.

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Pure gold (99.9 purity) also edged up by Rs 35 to close at Rs 29,355 per 10 gm from Rs 29,320.

However,Silver ready (.999 fineness) fell by Rs 165 per kg to conclude at Rs 52,555 from Rs 52,720 last weekend.

In Europe,gold traded stable as investors opted to sit in the fence ahead of the presentation by the US Federal Reserve chief later in the week,seeking hint of any further quantitative easing.

Spot gold bid stable at USD 1,589.75 an ounce in early trade.

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