its prices at the bullion market on weak global cues amid muted demand at existing levels from local jewellers and retailers.
However, silver managed to close in positive zone.
Trading activity remained restricted as market was closed on Thursday for the Republic Day.
Traders said sentiment was downbeat, largely in sync with a weak trend overseas as a rally in the US stock markets that saw Dow Jones crossing 20,000 for the first time, along with stronger dollar and Treasury yields, hit the precious metals’ safe haven appeal.
Globally, gold ended the week lower at USD 1,191.30 an ounce in New York.
Besides, tepid demand from local jewellers and retailers also weighed on gold prices.
In the national capital, gold of 99.9 and 99.5 per cent purity commenced the week on a higher note at Rs 29,715 and Rs 29,565 and advanced to Rs 29,725 and Rs 29,575 per 10 grams.
Thereafter, it met with resistance and slipped to a two-week low of Rs 29,150 and Rs 29,000 per 10 grams on weak global cues before ending at Rs 29,380 and Rs 29,230 per 10 grams respectively, showing a fall of Rs 195 each.
Sovereign, however, moved in a narrow range in limited deals and settled at last level of Rs 24,300 per piece of eight gram.
In volatile movements on alternate bouts of buying and selling, silver ready finally ended the week higher by Rs 100 to Rs 41,800 per kg. Similarly, weekly-based delivery closed the week higher by Rs 405 to Rs 41,830 per kg.
Silver coins, however, maintained a steady trend at Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces in limited deals.
(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)
Source: dnaindia.com