Gold, silver down on global cues, sluggish demand

Gold, silver down on global cues, sluggish demand
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First Published: Fri, Mar 23 2007. 03 35 PM IST
Updated: Fri, Mar 23 2007. 03 35 PM IST
PTI
New Delhi: Gold fell back on the bullion market today on stockists selling in line with weak Asian markets and ended Rs25 down at Rs9,450 per ten gram.
Marketmen said the fall in gold prices was mostly attributed to stockists selling, triggered by subdued trends at Asian markets where the yellow metal was quoted lower at $662.90 an ounce against last close of $665.30 an ounce.
They said slow down in buying by jewellery fabricators too had its impact on the trading sentiments.
Standard gold and ornaments lacked necessary buying support and lost Rs25 each at Rs9,450 and Rs9,300 per 10 gram respectively but sovereign remained flat at Rs7,825 per piece of eight gram on scattered enquiries.
In likewise manners, silver ready dropped by Rs30 at Rs19,670 per kilo while weekly-based delivery lost Rs135 at Rs19,750 per kilo.
However, silver coins were in some demand and were higher by Rs100 at Rs24,100 for buying and Rs24,200 for selling of 100 coins.
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First Published: Fri, Mar 23 2007. 03 35 PM IST
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