Home >Market >Stock-market-news >Gold prices fall on subdued demand, global cues

New Delhi: Gold prices fell by Rs10 to Rs28,650 per 10 grams in Delhi bullion market on Friday on decline in demand for the metal at prevailing levels amid a weak global trend.

However, silver continued its rising trend for the third straight day and rose by Rs300 to Rs45,300 per kg on sustained buying by coin makers.

Traders said fall in demand at prevailing levels and a weak trend overseas kept pressure on gold prices.

Gold in Singapore, which normally sets price trend on the domestic front, traded at $1,316.40 an ounce from $1,316.58 on Thursday.

In Delhi, gold of 99.9 and 99.5% purity shed Rs10 each to Rs28,650 and Rs28,450 per 10 grams, respectively. It had lost Rs50 on Thursday. Sovereign, however, held steady at Rs24,900 per piece of eight grams in limited deals.

On the other hand, silver ready gained Rs300 to Rs45,300 per kg and weekly-based delivery was up by Rs120 to Rs44,650 per kg. The white metal had gained Rs300 in last two days.

Silver coins continued to be traded at previous level of Rs79,000 for buying and Rs80,000 for selling of 100 pieces.

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