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Gold almost flat in sluggish trade, silver slides

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Press Trust of India Mumbai

In contrast, the industrial metal continued to drift for the fifth straight session on hectic unwinding from speculators.

Standard gold (99.5 purity) softened by Rs 5 per 10 gm to settle at Rs 30,925 from Friday's closing level of Rs 30,930. While, pure gold (99.9 purity) gained by Rs 5 per 10 gm to end at Rs 31,065 from Rs 31,060.

Silver ready (.999 fineness), however, slumped by Rs 425 per kg to conclude at Rs 61,335 as compared to Rs 61,760 yesterday.

In overseas, gold ended nearly flat amid uncertainty over looming fiscal crisis.

Gold for February delivery was marginally up to close at USD 1,697 an ounce on the Comex division of the NYMEX late yesterday.

 

Silver for March contract moved down to finish at USD 32.30 an ounce.

  

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First Published: Dec 15 2012 | 4:35 PM IST

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