Gold and silver prices steady amid weak Indian demand

Gold and silver prices in India held steady, reflecting a lackluster market sentiment. The 99.9% pure gold rate remained at Rs 1,49,800 per 10 grams, while silver stayed at Rs 2,27,000 per kilogram, according to local traders. The muted demand from jewelers and retailers contributed to the stagnant prices, keeping the bullion market in a narrow trading range.

Analysts noted that domestic gold prices tracked a firm trend in global markets, but this did not translate into significant movement locally. “Gold prices remained steady in the domestic market, tracking a firm trend in overseas markets,” said Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities.