Gold slumps on profit booking, silver gains

Share  ·   Comment   ·   print   ·  

Gold prices declined on profit taking at the bullion market here on Friday amid reduced off—take from stockists and investors on the back of subdued local buying interest at the higher levels.

Silver, however, edged up marginally on stray buying.

Standard gold (99.5 purity) dropped by Rs 240 to end at Rs 31,720 per 10 gm from Thursday’s closing level of Rs 31,960.

Pure gold (99.9 purity) dipped by Rs 245 to close at Rs 31,850 per 10 gm from Rs 32,095 previously.

However, silver ready (.999 fineness) moved up by Rs 15 per kg to conclude at Rs 63,065 as compared to Rs 63,050 yesterday.

In New York, gold ended moderately lower following stronger dollar amid concerns over weak macroeconomic data, including lower manufacturing reports of China and Europe.

Gold for December delivery declined $1.50 to $1,770.20 an ounce on the Comex division of the NYMEX late yesterday.

Silver for December contract advanced 9 cents to $34.68 an ounce.

(This article was published on September 21, 2012)
XThese are links to The Hindu Business Line suggested by Outbrain, which may or may not be relevant to the other content on this page. You can read Outbrain's privacy and cookie policy here.


This article is closed for comments.
Please Email the Editor


Exchange Rate

Dollar Spot Forward Rate

Open-Ended Mutual Funds

MCX-SX Currency Futures

NSE Currency Futures

More Disclosures »



Recent Article in Gold & Silver

Gold prices decline to Rs 27,779 at futures trade

Gold futures prices fell 0.55 per cent to Rs 27,779 per 10 grams today as speculators offloaded their positions amid a weak global trend... »

Comments to: Copyright © 2014, The Hindu Business Line.