Gold prices slump to six-week low on subdued demand
Mumbai: Gold continued on Wednesday hit 1-1/2 month low of Rs28,090 per 10 grams, following subdued demand from stockists and retailers.
Silver also drifted lower by Rs280 per kg due to reduced off-take by industrial units and coin makers.
Standard gold (99.5 purity) eased by Rs45 to end at Rs28,090 per 10 grams from Tuesday’s closing level of Rs28,135.
Pure gold (99.9 purity) also moved down by a similar margin to finish at Rs28,240 per 10 grams as compared to Rs28,285 on Tuesday.
Silver (.999 fineness) declined by Rs280 to end at Rs37,350 per kg as against Rs37,630 on Tuesday. While, the US markets remained closed on Tuesday on the occasion of Independence Day.