Gold closes steady; silver remains weak on reduced offtake

Gold held steady at Rs 26,250 per 10 grams at the bullion market today in absence of any worthwhile activity from jewellers even as metal weakened overseas.
Silver, however, declined by Rs 220 to Rs 35,180 per kg on reduced offtake by industrial units amid a weak global trend.
Traders said scattered buying by jewellers, helped gold to close steady.
Globally, gold fell 0.2 per cent to USD 1,153.77 an ounce and silver was 0.4 per cent lower at USD 15.30 an ounce in Singapore.
In the national capital, gold of 99.9 and 99.5 per cent purity ended unaltered at Rs 26,250 and Rs 26,100 per 10 grams, respectively.

Sovereign followed suit and traded at last level of Rs 23,000 per piece of eight grams.
On the other hand, silver ready dropped further by Rs 220 to Rs 35,180 per kg and weekly-based delivery by Rs 225 to Rs 35,105 per kg.
However, silver coins remained flat at Rs 53,000 for buying and Rs 54,000 for selling of 100 pieces in restricted buying activity.