Gold prices flat on first day of 2018, silver goes up

Gold prices on Monday ruled flat at Rs30,400 per 10 gram on the first trading day of the year 2018 on scattered deals. However, silver prices rose by Rs120 to Rs40,100 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% purity held steady at Rs30,400 and Rs30,250 per 10 gram, respectively. The precious metal had climbed Rs175 in Saturday?s trade. Sovereign followed suit and traded at last level of Rs24,700 per piece of eight gram in limited deals.

On the other hand, silver ready gained Rs120 to Rs40,100 per kg, while weekly-based delivery slipped by Rs50 to Rs39,170 per kg. Silver coins however continued to be traded at previous level of Rs73,000 for buying and Rs74,000 for selling of 100 pieces.

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