India: Gold and silver marginally up in thin trading
In dull trading, prices of both gold and silver moved narrowly and closed with minor gains on the opening day of the year 2007 at the bullion market today.
Trading activity remained restricted due to closure of many international markets on account of New Year and Id-ul-Zuha and most of the transactions were carried over by local stockists and retail jewellers, dealers said.
Standard gold (99.5 purity) started steady at previous week’s close of Rs 9,170 and after moving narrowly closed at Rs 9,175, showing a small gain of Rs 5 over the last close of Rs 9,170.
Similarly, pure gold (99.9 purity), after a steady start at Rs 9,215, ended at 9,225, gaining Rs 10 over Rs 9,215 on last Saturday.
Ready silver (.999 fineness) started lower at Rs 19,510 and thereafter found some low-level support and edged up to finish at Rs 19,540, a negligible gain of Rs 5 over the previous weekend close of Rs 19,535.