Mumbai: Gold dropped further by Rs 180 per
10 grams at the bullion market here today in line with a weak
trend overseas amid fall in local demand.
Silver followed suit by tumbling Rs 640 to Rs 38,070 per
kg due to reduced offtake by industrial units and coin makers.
Standard gold (99.5 purity) fell Rs 180 to close at Rs
29,250 per 10 grams from Wednesday's closing level of Rs
29,430.
Pure gold (99.9 purity) also moved down by the same
amount to end at Rs 29,400 per 10 grams as against to Rs
29,580 previously.
Silver (.999 fineness) tumbled by Rs 640 to finish at
Rs 38,070 per kg as against Rs 38,710 previously.
Globally, gold hit a one-week low as a stronger dollar,
upbeat sentiment on equities and positive US growth data
dented the appeal of the safe-haven asset, though the metal
was still stuck in its narrowest monthly range in 12 years.
Spot gold was down 0.2 per cent at USD 1,280.61 an
ounce at early trade.
Silver touched an eight-week low of USD 16.45 an ounce
and was down 0.2 per cent at USD 16.52.
PTI
