Home >market >stock-market-news >Gold remains weak on sluggish demand, silver ends steady

New Delhi: Gold remained weak for the second straight day and it shed Rs35 to Rs26,350 per ten grams in Delhi bullion market on Tuesday on easing demand from jewellers and retailers even as the metal held steady in global markets.

Marketmen said subdued demand from jewellers and retailers at the domestic spot markets mainly kept pressure on the precious metal prices.

Globally, gold traded at steady at $1,088.68 an ounce in Singapore.

Meanwhile, the government on Monday raised the import tariff value on gold to $354 per 10 gram and on silver to $457 per kg as per global price trends. During the first fortnight of this month the import tariff value on gold was at $345 per 10 and on silver it was $452 per kg.

In the national capital, gold of 99.9 and 99.5% purity fell further by Rs35 each to Rs26,350 and Rs26,200 per ten grams, respectively. The precious metal had lost Rs165 on Monday. Sovereign, however, remained flat at Rs22,300 per piece of eight gram.

On the other hand, silver ready held flat at Rs34,000 per kg, while weekly-based delivery recovered by Rs45 to Rs34,045 per kg. Silver coins traded at previous level of Rs49,000 for buying and Rs50,000 for selling of 100 pieces.

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