Gold prices fall on muted demand, silver slides more
Gold prices edge down on Friday by Rs30 to close at Rs30,800 per 10 grams dampened by demand slackness even as the metal traded strong overseas
New Delhi: Gold prices edged down on Friday by Rs30 to close at Rs30,800 per 10 grams dampened by demand slackness even as the metal traded strong overseas. Silver dropped Rs100 to Rs41,200 per kg as industrial units and coin makers held themselves back.
Domestic jewellers and retailers were not too forthcoming in their orders at the prevailing level, but a firm trend overseas checked the decline in gold prices. Globally, gold rates rose 0.18% to $1,295.40 an ounce and silver by 0.17% to $17.26 an ounce in Singapore.
In the national capital, gold of 99.9% and 99.5% purity shed Rs30 each to Rs30,800 and Rs30,650 per 10 grams, respectively. It had advanced Rs80 on Thursday. Sovereign, however, was steady at Rs24,700 per piece of eight grams.
While silver ready fell by Rs100 to Rs41,200 per kg, weekly-based delivery edged up by Rs55 to Rs40,385. Silver coins, however, continued to be traded at the previous level of Rs74,000 for buying and Rs75,000 for selling of 100 pieces.