New Delhi: Gold prices eased by ₹ 100 to ₹ 29,800 per 10 grams at the bullion market on Friday owing to slackened demand from jewellers and customers at prevailing levels amid weak global cues.
Silver also dropped by ₹ 550 to ₹ 40,350 per kg due to reduced offtake by industrial users.
Traders said besides fall in demand at existing levels, a weak global trend where it slipped from a five-week high after a gauge of US unemployment tumbled to the lowest since 1973, dampening the metal’s appeal as a safe haven, weighed on gold prices.
Globally, gold eased by 0.17% to $1,245.90 an ounce in Singapore.
In the national capital, gold of 99.9% and 99.5% purity fell by ₹ 100 each to ₹ 29,800 and ₹ 29,650 per 10 grams respectively.
It had climbed ₹ 400 in Thursday’s trade. Sovereign, however, held steady at ₹ 23,200 per piece of eight grams in limited deals. Similarly, silver ready dropped by ₹ 550 to ₹ 40,350 per kg and weekly-based delivery broke below the ₹ 41,000-mark by plunging ₹ 1,115 to trade at ₹ 40,115 per kg.
On the other hand, silver coins traded at previous level of ₹ 64,000 for buying and ₹ 65,000 for selling of 100 pieces.