Gold prices fell Rs 50 to Rs 32,400 per 10 grams here today due to weak demand from local jewellers and a subdued trend overseas. Silver also declined by Rs 150 to Rs 40,550 per kg due to reduced offtake by industrial units and coin makers.
Traders said a weak trend overseas, where the metal stayed close to five-week lows pressured by a stronger dollar and a rise in US Treasury yields, dampened the trading sentiment here. Besides, fall in demand from local jewellers and retailers at current levels too dampened the sentiment.
Globally, gold fell 0.54 per cent to $1,322.60 an ounce and silver by 0.96 per cent to $16.51 an ounce in New York yesterday.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity shed Rs 50 each to Rs 32,400 and Rs 32,250 per 10 grams, respectively. The precious metal had gained Rs 225 yesterday. Sovereign, however, remained flat at Rs 24,800 per piece of eight grams.
Silver ready fell by Rs 150 to Rs 40,550 per kg and weekly-based delivery by Rs 150 to Rs 39,425 per kg. Silver coins, however, continued to be traded at previous level of Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.