Gold & Silver

Gold slips on muted demand, global cues

PTI New Delhi | Updated on January 08, 2018 Published on January 06, 2018

Gold prices declined by Rs 50 to Rs 30,450 per 10 grams at the bullion market today on easing demand from local jewellers and weak global cues. Silver, however, held steady at Rs 40,000 per kg in scattered deals.

Bullion traders said apart from a weak trend overseas, easing demand from local jewellers at domestic spot market, mainly weighed on gold prices.

Globally, gold fell 0.24 per cent to USD 1,318.80 an ounce and silver by 0.23 per cent to USD 17.16 an ounce in New York in yesterday’s trade.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity shed Rs 50 each to Rs 30,450 and Rs 30,300 per 10 grams, respectively. It had gained Rs 135 yesterday. Sovereign, however, remained flat at Rs 24,700 per piece of eight grams.

On the other hand, silver ready traded at previous level of Rs 40,000 per kg, while weekly-based delivery edged up by Rs 50 to Rs 39,250 per kg. Silver coins, however, remained unaltered at Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.

Published on January 06, 2018
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