Gold rises marginally by Rs 20, silver sheds Rs 200

NEW DELHI: Gold prices rose marginally by Rs 20 to Rs 30,420 per 10 grams in the bullion market here today on some buying support, while silver lost Rs 200 to Rs 53,500 per kg on lack of necessary support.

Traders said gold rose on buying by jewellers to meet the wedding season demand and a firm trend overseas, while silver fell for the second day in a row on reduced offtake by industrial units and coin makers.

In Singapore, gold rose by 0.3 per cent to $1,579.15 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity recovered by Rs 20 each to Rs 30,420 and Rs 30,220 per 10 grams, respectively. The metal had lost Rs 200 yesterday.

Sovereign remained steady at Rs 24,500 per piece of eight grams in scattered deals.

Silver ready remained under selling pressure and fell by Rs 200 to Rs 53,500 per kg and weekly-based delivery by Rs 105 to Rs 52,850 per kg. The white metal has lost Rs 700 in the previous session.

Silver coins held steady at Rs 62,000 for buying and Rs 63,000 for selling of 100 pieces.