Gold ends flat in thin trade; silver recovers

Gold prices remained steady at Rs 30,100 per ten grams at the bullion market today in the absence of any worthwhile activity at prevailing levels, even as the precious metal strengthened overseas. Silver, however, recovered by Rs 50 to Rs 41,100 per kg on higher global cues and buying from industrial units, snapping its three-day falling trend. Traders said slowdown by retailers and jewellers at existing levels mainly kept gold prices unaltered.

In the national capital, gold of 99.9 and 99.5 per cent purity ruled steady at Rs 30,100 and Rs 29,950 per ten grams respectively. Sovereign followed suit and traded at previous level of Rs 23,300 per piece of eight grams.

Globally, gold snapped a three-day losing run and traded 0.3 per cent higher at USD 1,283.44 an ounce in Singapore. Silver too was up by 0.4 per cent at USD 17.41 an ounce.

On the other hand, silver ready edged up by Rs 50 to Rs 41,100 per kg and weekly-based delivery by Rs 150 to Rs 40,880 per kg.

Meanwhile, silver coins continued to be traded at last level of Rs 69,000 for buying and Rs 70,000 for selling of 100 pieces in limited deals.