Gold ends flat on scattered support; silver strengthens

Gold prices ended steady at Rs 27,000 per 10 grams at the bullion market in the national capital on Friday on scattered buying by retailers even as the precious metal strengthened overseas.

On the other hand, silver prices advanced by Rs 500 to Rs 37,000 per kg on increased offtake by industrial units and coin makers.

Traders said some buying by jewellers and retailers and a firm trend in Asian region mainly kept gold prices steady.

Gold in Singapore, which normally sets price trend on the domestic front, added 1.3 per cent to $1,189.08 an ounce.

Silver also shot up by 2 per cent to $16.02 an ounce.

In Delhi, gold of 99.9 and 99.5 per cent purity continued to be asked at previous levels of Rs 27,000 and Rs 26,800 per 10 grams, respectively.

Sovereign followed suit and enquired at last level of Rs 23,700 per piece of eight grams.

On the other hand, silver ready gained Rs 500 to Rs 37,000 per kg and weekly-based delivery by Rs 680 to Rs 37,150 per kg largely on the back of a firming trend at other Asian markets.

Meanwhile, silver coins remained unchanged at Rs 59,000 for buying and Rs 60,000 for selling of 100 pieces.