Gold and silver prices fail to shine on Dhanteras

Photo related to gold and silver jewelry.

Mumbai: On the eve of Dhanteras before Diwali festival, the gold prices eased at the domestic bullion market, where as silver too turned weak owing to lower demand from consuming industries.

Standard gold (99.5 purity) declined by Rs 50 to close at Rs 30,060 per 10 grams from Wednesday’s closing level of Rs 30,110.

Pure gold (99.9 purity) also went down by a similar margin to finish at Rs 30,210 per 10 grams as against Rs 30,260 previously.

Silver (.999 fineness) to moved down by Rs 10 to conclude at Rs 43,090 per kg from Rs 43,100 previously.

Globally, gold rose marginally, on track to end the week barely changed as the market waited for more signs about the timing of an expected US interest rate rise from the Federal Reserve.

Spot gold was up 0.2 per cent at USD 1,268.96 an ounce in early European trade, while US gold futures rose by a similar margin to USD 1,269.50 per ounce. It has traded in a roughly USD 16 range over the last week. Silver was up 0.6 per cent at USD 17.69 an ounce.