Gold prices remain flat

NEW DELHI: Gold prices on Monday ruled flat at Rs 30,400 per 10 gram on the first trading day of the year 2018 on scattered deals, reports PTI.

However, silver prices rose by Rs120 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 on Monday on account of New Year Holiday, also influenced the sentiment in India.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity held steady at Rs 30,400 and Rs 30,250 per 10 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.