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| Silver rises; Gold eases during the week | | |
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Mumbai, July 10 : A mixed trend was seen in the precious metals on bullion market during the highly volatile week ended today under review, as Silver rose by Rs 95 per kg while Gold declined by Rs 125 per ten gm. The bullion market opened on Tuesday, instead of Monday, when it was closed on account of 'Bharat Bandh' called by the Opposition parties to protest the hike in fuel prices.
On Tuesday, Silver nominally fell by Rs 20 and it slipped further next day by Rs 150 to end at one-month low of Rs 29,165 per kg on sustained sell-off by stockists in view of negative global cues.
On Thursday, it bounced back by Rs 265 per kg to close high at Rs 29,430 on brisk demand from industrial users. But it pared the gains and fell on Friday by Rs 215 per kg on persistent offloading by stock holders amidst discouraging global cues. Today, it rebounded by the same value to end at Rs 29,430 per kg.
With this, the white metal had gained by Rs 95 per kg as against its last weekend's close. Similarly, Gold too declined in the first two days of the week.
On Tuesday, it fell by Rs 20 per ten gm and on Wednesday it dipped further by Rs 205 to end at Rs 18,290, a six-week low, on poor demand from stockists amidst weak global cues.
On Thursday, it was seen on recovery mode, as it rose by Rs 75 per ten gm to 18,365. But, it could not sustain the winning streak the next day, as it eased by Rs 100 on poor demand from local dealers. Today, Gold rebounded and advanced by Rs 125 per ten gm to end at Rs 18,390. With this, both varieties of Gold declined by Rs 125 each to end at Rs 18,390 per ten gm for Stanard and Rs 18,480 per ten gm for Pure respectively, as compared to its previous weekend's close.
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