Gold prices slip on easing demand from jewellers
Gold prices soften by Rs115 to Rs32,285 per 10 gram on sluggish demand from local jewellers even as overseas trend firmed up
New Delhi: Gold prices on Monday softened by Rs115 to Rs32,285 per 10 gram on sluggish demand from local jewellers even as overseas trend firmed up. Silver prices also eased by Rs100 to Rs41,300 per kg due to reduced offtake by industrial units and coin makers.
Traders said fading demand from local jewellers and retailers at current higher levels led to decline in gold prices, though a firm trend overseas capped the fall.
Globally, gold rate rose 0.20% to $1,320.50 an ounce and silver by 0.15% to $16.67 an ounce in Singapore.
In the national capital, gold of 99.9% and 99.5% purity fell by Rs115 each to Rs32,285 and Rs32,135 per 10 gram, respectively. Sovereign however remained unaltered at Rs24,800 per piece of eight gram.
Following gold, silver ready traded lower by Rs100 to Rs41,300 per kg and weekly-based delivery by Rs70 to Rs40,470 per kg. Silver coins however held steady at Rs76,000 for buying and Rs77,000 for selling of 100 pieces.
Editor's Picks »
- Policy rethink and higher volumes to aid container shippers
- DCB Bank delivers a strong Q2 but pressure on margins foreseen
- Havells India: Rising costs give a jolt to profitability in September quarter
- All’s well at Mindtree, except for high client concentration risk
- India’s rising steel demand is making companies starry-eyed