BackGold prices lose ground on poor demand
In Delhi, gold prices of 99.9% and 99.5% purity declined by Rs90 each to Rs29,810 and Rs29,660 per 10 grams, respectively
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New Delhi: Gold prices lost some of its shine as the price eased by Rs90 to Rs29,810 per 10 grams on Thursday, aligning with a sluggish trend overseas amid fall in local demand.
Silver, however, made a smart comeback by recovering Rs210 to Rs42,460 per kg, supported by increased offtake by industrial units.
According to traders, drop in demand from local jewellers at the domestic spot market, apart from a weak trend overseas, was a big drag.
Globally, gold softened by 0.12% to $1,278.70 an ounce in Singapore.
Also Read: Global gold prices steady on geopolitical worries amid firm dollar
In the national capital, gold of 99.9% and 99.5% purity declined by Rs90 each to Rs29,810 and Rs29,660 per 10 grams, respectively.
Sovereign, however, remained steady at ₹ 24,500 per piece of eight grams.
On the other hand, silver ready rebounded by ₹ 10 to ₹ 2,460 per kg while weekly-based delivery shed ₹ 20 at ₹ 41,810 per kg. Silver coins, however, remained flat at ₹ 2,000 for buying and ₹ 3,000 for selling of 100 pieces.
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