Gold & Silver

Gold falls to Rs 29,275 on weak global cues, fall in demand

PTI New Delhi | Updated on January 15, 2018 Published on April 06, 2017

gold

After rising for three straight days, gold drifted lower by Rs 125 to Rs 29,275 per 10 grams due to weak global cues amid fall in demand from local jewellers.

Silver followed suit and softened by Rs 100 to Rs 42,500 per kg due to reduced offtake by industrial units and coin makers.

Marketmen said apart from a weak trend overseas, easing demand from local jewellers and retailers at existing levels weighed on gold prices.

Globally, gold fell 0.13 per cent to $1,253.80 an ounce and silver by 0.25 per cent to $18.22 an ounce in Singapore.

In the national capital, gold of 99.9 and 99.5 per cent purity traded lower by Rs 125 each to Rs 29,275 and Rs 29,125 per 10 grams, respectively. It had gained Rs 340 in the past three sessions.

Sovereign, however, remained unaltered at Rs 24,400 per piece of eight grams.

Following the yellow metal, silver ready declined by Rs 100 to Rs 42,500 per kg and weekly-based delivery by Rs 185 to Rs 42,240 per kg.

Silver coins held steady at Rs 71,000 for buying and Rs 72,000 for selling of 100 pieces.

Published on April 06, 2017
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