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Gold prices drifted lower by Rs 150 to Rs 32,630 per 10 grams today, breaking its three-day rising spell, due to a weak global trend and lower demand from domestic jewellers. Silver, however, recovered by Rs 310 to Rs 39,500 per kg due to increased offtake by coin makers.
Bullion traders said the sentiment turned somewhat weak largely in tandem with a subdued trend overseas. At the domestic market, buyers postponed their purchases ahead of ‘Dhanteras’ next week.
Globally, gold fell 0.03 per cent to $1,233.50 an ounce and silver by 0.03 per cent to $14.82 an ounce in Singapore.
In the national capital, gold of 99.9 and 99.5 per cent purity declined by Rs 150 each to Rs 32,630 and Rs 32,480 per 10 grams respectively. The precious metal had gained Rs 230 in the last three days. Sovereign gold, however, remained flat at Rs 24,900 per piece of 8 gram.
On the other side, silver ready rebounded by Rs 310 to Rs 39,500 per kg and weekly-based delivery by Rs 418 to Rs 38,546 per kg. Silver coins, however, were unaltered at 76,000 for buying and Rs 77,000 for selling of 100 pieces.
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