BackGold slips on low demand, silver rebounds sharply
Gold of 99.9% and 99.5%purity shed Rs25 each at Rs30,025 and Rs29,875 per 10 grams, respectively
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New Delhi: Gold prices drifted lower by ₹ 25 to ₹ 30,025 per 10 grams at Delhi bullion market on Saturday as demand eased from jewellers and retailers at prevailing levels even as the metal strengthened overseas.
Bullion traders said lower demand from jewellers and retailers at existing levels led to the fall in gold prices, but a firming trend overseas capped the fall.
Globally, gold rose by 0.76% to $1,272.80 an ounce in New York in yesterday’s trade.
In the national capital, gold of 99.9% and 99.5%purity shed ₹ 25 each at ₹ 30,025 and ₹ 29,875 per 10 grams, respectively. It had gained ₹ 200 on Friday. Sovereign, however, remained flat at ₹ 23,300 per piece of eight grams.
On the other hand, silver ready rebounded by ₹ 425 to ₹ 40,925 per kg and weekly-based delivery by ₹ 135 to ₹ 41,010 per kg. Silver coins, however, remained unaltered at ₹ 69,000 for buying and ₹ 70,000 for selling of 100 pieces.
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