Gold fell by Rs 60 to Rs 31,420 per 10 gram at the bullion market today on sluggish demand from local jewelers despite a firm trend...
Gold fell by Rs 60 to Rs 31,420 per 10 gram at the bullion market today on sluggish demand from local jewelers despite a firm trend overseas. However, silver held steady at Rs 40,600 per kg on scattered inquiries from industrial units and coin makers. Marketmen attributed the fall in gold prices to muted demand from jewelers and retailers at domestic spot market, but a positive global trend capped the fall.
Sluggish demand from local jewelers
Globally, gold edged higher 0.35 percent to USD 1,252.50 an ounce and silver by 0.72 percent to USD 16.09 an ounce in New York in yesterday's trade. In the national capital, gold of 99.9 percent and 99.5 percent purity fell further by Rs 60 to Rs 31,420 and Rs 31,270 per 10 gram, respectively. The yellow metal had lost Rs 170 yesterday. Sovereign, however, remained unaltered at Rs 24,800 per piece of eight gram.
Silver ready traded at the previous level of Rs 40,600 per kg
On the other hand, silver ready traded at the previous level of Rs 40,600 per kg on scattered support, while weekly-based delivery declined by Rs 60 to Rs 39,225 per kg. Silver coins also held steady at Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.
