Gold price remain consistent despite losses, should you buy?

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Gold price remain consistent despite losses, should you buy?

Silver is the rising star this week.

By PTI

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Published: Sat 4 Feb 2017, 1:02 PM

Last updated: Sat 4 Feb 2017, 3:35 PM

Silver prices recovered by Rs130 to Rs42,200 per kg on Saturday, tracking a firm trend overseas amid increased offtake by consuming industries at the domestic spot market.

On the other hand, gold went steady at Rs29,550 per 10 grams in scattered deals even as it strengthened overseas.

Traders attributed the recovery in silver prices to a firm global trend and higher demand locally.

Globally, silver rose by 0.20 per cent to $17.49 an ounce and gold by 0.34 per cent to $1,219.50 in New York on Friday.

In the national capital, silver ready rebounded by Rs130 to Rs42,200 per kg while weekly-based delivery shed Rs20 at Rs41,700.

Silver coins, however, continued to be at the previous level of Rs72,000 for buying and Rs73,000 for selling of 100 pieces.

On the other hand, gold of 99.9 per cent and 99.5 per cent purity went flat at Rs29,550 (Dh1,615.06) and Rs29,400 (Dh1,606.86) per 10 grams, respectively. It had lost Rs200 in the last two days.

Sovereign, however, remained unchanged at Rs24,400 per piece of eight grams.


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