Gold eases on listless trade; silver up

Gold prices eased slightly after its weekend surge at the domestic bullion market today on subdued demand from stockists and traders amid lack of local buying interest at the existing higher levels. Silver climbed further on strong speculative demand on the back of good industrial off-take. Standard gold of 99.5 per cent purity moved down by Rs 25 to close at Rs 31,765 per 10 gm from last Saturday's closing level of Rs 31,790.

Pure gold of 99.9 per cent purity slipped by similar margin to finish at Rs 31,920 per 10 gm from Rs 31,945. However, silver ready (.999 fineness) strengthened by Rs 470 to conclude at Rs 54,730 per kg from its previous closing level of Rs 54,260. Globally, in London, gold prices eased on investors' cautiousness as well as mute activity due to National holiday after hitting a 11-week high in previous session ran out of steam. Spot gold was bid down at US 1,395.85 an ounce in early trade, while silver was bid up at USD 24.04 an ounce.

PTI