Gold up because of good buying support; silver also firms up
NEW DELHI-INDIA (May 25) Gold prices improved further at the domestic bullion market in Mumbai on Saturday on sustained low-level demand amid wedding season offtake.
Silver also firmed up owing to steady industrial demand.
Standard gold of 99.5% purity edged higher by Rs 55 to end at Rs 26,525/10 gm from Friday's closing level of Rs 26,470.
Pure gold of 99.9% purity moved up by Rs 30 to finish at Rs 26,655/10 gm from Rs 26,625.
Silver ready (.999 fineness) strengthened by Rs 115 to conclude at Rs 44,700/kg as against Rs 44,585 yesterday.
Meanwhile in overseas, the shiny metal ended modestly lower on investors selling ahead of a long US weekend despite weak dollar valuation.
Gold for June delivery fell $5.30 to settle at $1,387.50 an ounce on the Comex division of the NYMEX late yesterday.
Silver July contract softened to close at $22.50 an ounce.