Gold & Silver

Gold slumps Rs 80 on weak demand

PTI New Delhi | Updated on April 04, 2019 Published on April 04, 2019

Gold prices on Thursday fell by Rs 80 to Rs 32,670 per 10 gram at the bullion market here due to subdued demand from jewellers, according to the All India Sarafa Association.

Silver too declined by Rs 90 to Rs 38,330 a kg on low offtake by industrial units and coin makers. Traders said reduced demand from local jewellers as well as retail buyers led to the downtrend in gold prices. In the international market, spot gold was trading at $ 1,293.26 an ounce, while silver was trading at $ 15.15 an ounce in New York.

On Wednesday, the yellow metal had declined by Rs 100. In the national capital, gold of 99.9 per cent and 99.5 per cent purity fell by Rs 80 each to Rs 32,670 and Rs 32,500 per 10 gram, respectively. However, sovereign gold held steady at Rs 26,400 per piece of eight gram.

Silver ready fell by Rs 90 to Rs 38,330 a kg, while weekly-based delivery rose by Rs 45 to Rs 37,465 a kg. Silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.

Published on April 04, 2019
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