Gold ends flat, silver sheds Rs 350 on sluggish demand

Silver prices declined by Rs 350 to Rs 57,250 per kg in the bullion market here today on sluggish demand at prevailing higher levels, while gold closed flat at Rs 31,175 per 10 grams.

Traders said sluggish demand from industrial units and coin makers led to a decline in silver prices, while gold held steady on restricted buying at prevailing higher levels.

On the domestic front, silver ready fell further by Rs 350 to Rs 57,250 per kg, while weekly-based delivery lost Rs 710 to Rs 56,740 per kg. The white metal had shed Rs 400 yesterday.

Silver coins continued to be asked around previous level of Rs 70,000 for buying and Rs 71,000 for selling of 100 pieces.

Gold of 99.9 and 99.5 per cent purity remained steady at Rs 31,175 and Rs 30,975 per 10 grams, respectively.

Sovereign were also enquired at last level of Rs 24,750 per piece of eight grams.

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