Gold eases on reduced offtake, weak global trend

Gold eases on reduced offtake, weak global trend

New Delhi: Gold and silver closed with fresh losses on the bullion market on 13 September, on lack of buying interest following lower overseas advices.

Marketmen said stockists and traders were unwilling to enlarge their positions in view of weak global trend.

Gold in overseas markets traded at $710.54 an ounce, lower by $6.70. Silver also fell by 0.3% at $12.62 an ounce.

The impact was felt in the domestic market here with standard gold and ornaments falling by 80 each at 9,420 and 9,270 per 10 gram respectively. Sovereign, however, remained flat at 7,775 per piece of eight gram.

Silver ready dropped by 200 at 17,250 per kilo, while weekly-based delivery rose marginally by 20 at 17,460 per kilo.

Silver coins, on the other hand, attracted buyers attention due to forthcoming festival season and gained by 100 at 23,800 for buying and 23,900 for selling of 100 pieces.