New Delhi: Gold prices went down by Rs 220 to Rs 31,450 per 10 grams at the bullion
market today backed by a weak trend overseas amid easing demand from
local jewellers at prevailing levels.
Silver also dropped by Rs 400 to Rs 39,500 per kg due to reduced offtake by industrial units and coin makers.
Traders
said apart from a weak trend overseas, decline in demand from local
jewellers and retailers at existing levels in domestic spot market,
mainly weighed on the gold and silver prices.
Globally, gold fell
0.70 per cent to USD 1,324.90 an ounce and silver by 0.53 per cent to
USD 16.47 an ounce in New York in yesterday's trade.
In the
national capital, gold of 99.9 per cent and 99.5 per cent purity fell by
Rs 220 each to Rs 31,450 and Rs 31,300 per 10 grams, respectively. The
precious metals had climbed
Rs 220 yesterday.
Sovereign, however, remained unaltered at Rs 24,800 per
piece of eight grams in limited deals.
Following gold, silver ready moved down by Rs 400 to
Rs 39,500 per kg and weekly-based delivery by Rs 470 to Rs 38,770 per kg.
Silver
coins, however, continued to be traded at previous levels of Rs 74,000
for buying and Rs 75,000 for selling of 100 pieces.
PTI
