Thursday, April 2, 2009

Gold Remains Steady On Lack Of Support - April 02, 2009

The gold prices on Wednesday held steady at Rs 15,260 per ten gram on the bullion market due to lack of buying support following bank closure for public dealings on the first day of the fiscal year. However, on the other hand, the silver gained Rs 100 at Rs 21,800 per kg on fresh buying by industrial units and silver coins manufacturers.

The buying activity in the bullion was also restricted as some investors preferred shifting their funds in rising equity market for quick gains. The Standard gold and ornaments held steady at Rs 15,260 and Rs 15,110 per ten gram respectively. The sovereign also traded around Rs 12,200 per piece of eight gram.

On the other hand, the silver ready recovered by Rs 100 to Rs 21,800 per kg on retailers buying. It had lost by Rs 470 per kg in the previous session. However, the silver weekly-based delivery fell further by Rs 310 to Rs 21,670 per kg. Its coins held unchanged at Rs 28,200 for buying while Rs 28,300 for selling of 100 pieces.

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