BackGold, silver turns weak on sluggish demand, global cues
Gold of 99.9 and 99.5% purity fell by Rs90 each to Rs26,990 and Rs26,840 per 10 gm, respectively
Premium
New Delhi: Taking cues from the weakness in global markets and slackened demand from jewellers, gold prices drifted by Rs90 to Rs26,990 per 10 gm at the bullion market on Friday.
Bullion traders said besides subdued demand at domestic spot markets from jewellers at existing levels, a weak global trend in the precious metals mainly dampened sentiments here.
Globally, gold in New York, which normally set price trend on the domestic front, declined by 0.31% to $1,197.80 an ounce and silver by 0.25% to $16.27 an ounce in yesterday’s trade.
In the national capital, gold of 99.9 and 99.5% purity fell by Rs90 each to Rs26,990 and Rs26,840 per 10 gm, respectively. It had surged by Rs210 on Thursday. Sovereign, however, held steady at Rs23,700 per piece of eight gram.
Following gold, silver ready weakened by Rs100 to Rs36,900 per kg and weekly-based delivery lost Rs230 to Rs36,440 per kg. On the other hand, silver coins traded at last level of Rs56,000 for buying and Rs57,000 for selling of 100 pieces.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
