Gold price gains on seasonal buying, silver ends flat

Gold price

Gold prices gained on modestly at the domestic bullion market today owing to good offtake from traders and jewellery buying interest at the existing levels on the back of peak wedding season.

Silver moved in a lacklustre trade and ended slightly lower following subdued demand from speculators.

Standard gold (99.5 purity) rose by Rs 60 per 10 gm to close at Rs 30,985 from last Saturday's closing level of Rs 30,925.

Pure gold (99.9 purity) moved up by Rs 40 per 10 gm to finish at Rs 31,105 from Rs 31,065.

However, silver ready (.999 fineness) edged down by Rs 10 per kg to end at Rs 61,325 compared to Rs 61,335 previously.

In Europe, gold dropped for third session on weak euro amid doubts over the scope of U.S. budget talks and lingering fiscal cliff.

Spot gold was bid down at USD 1,689.51 an ounce in early trade and spot silver bid lower at USD 32.14 an ounce.

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