Gold ends stabilize; silver rise on stockists buying

Gold ended steady at Rs. 28,400 per ten gram in the national capital on Friday in the absence of worthwhile activity even as it edged higher overseas.

On the other hand, silver shot up on increased buying by stockists and industrial units.

Traders said absence of any worthwhile activity as buying interest has declined at prevailing levels amid off-marriage season mainly kept gold prices steady.

They said, however, increased buying by industrial units and stockists pushed up silver prices.

In Delhi, gold of 99.9 and 99.5 per cent purity were unaltered at Rs. 28,400 and Rs. 28,200 per ten gram respectively. Sovereign in a similar fashion ended flat at Rs. 24,900 per piece of eight gram.

Silver ready rose by Rs. 400 to Rs. 45,300 per kg and weekly-based delivery by Rs. 325 to Rs. 44,645 per kg. The white metal had gained Rs. 100 on Thursday.

Meanwhile, silver coins continued to be traded at previous level of Rs. 79,000 for buying and Rs. 80,000 for selling of 100 pieces.