Gold begins 2018 on flat note, silver goes up

New Delhi: Gold prices today ruled flat at Rs 30,400 per ten gram on the first trading day of the year 2018 on scattered deals.

However, silver rose by Rs 120 to Rs 40,100 per kg on increased offtake by industrial units and coin makers.

Traders said limited deals from local jewellers mainly kept gold prices unaltered.

The near absence of cues from global markets, which remained closed today on account of New Year Holiday, also influenced the sentiment here.

In the national capital, gold of 99.9 and 99.5 per cent purity held steady at Rs 30,400 and Rs 30,250 per ten gram respectively. The precious metal had climbed Rs 175 in Saturday’s trade.

Sovereign followed suit and traded at last level of Rs 24,700 per piece of eight gram in limited deals.

On the other hand, silver ready gained Rs 120 to Rs 40,100 per kg, while weekly-based delivery slipped by Rs 50 to Rs 39,170 per kg.

Silver coins however continued to be traded at previous level of Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.