Gold adds more losses, silver reclaims Rs 37,000 mark

Gold prices drifted lower by Rs 45 to Rs 30,690 per 10 gram at the bullion market here Friday following slackening demand even as the metal strengthened overseas.

While, silver prices recovered by Rs 285 to Rs 37,035 per kg on increased offtake by industrial units.

Standard gold (99.5 per cent purity) moved down by Rs 45 to close at Rs 30,690 per 10 gram from Wednesday’s closing level of Rs 30,735

Pure gold (99.9 per cent purity) also edged down by a similar amount to close at Rs 30,840 per 10 gram compared to Rs 30,885.

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However, silver (.999 fineness) rose by Rs 285 to conclude at Rs 37,035 per kg as against Rs 36,750, previously.

Globally, gold prices edged up to a one-week high as the dollar weakened on receding fears of a full-blown the US-Sino trade war, keeping the yellow metal on track for its first weekly gain in four.

Spot gold was up by 0.3 per cent at $ 1,210.68 at early trade.

Among other precious metals, spot silver rose by 0.6 per cent to $ 14.35, after rising to two-week highs of $ 14.41.