Home > market > stock-market-news > Gold falls by Rs160 on sluggish demand, global cues

New Delhi: After three sessions of gains, gold prices on Tuesday declined by Rs160 to Rs28,625 per ten gram in Delhi bullion market due to fall in demand at prevailing higher levels amid a weak global trend. Silver remained under selling pressure and lost another Rs100 to Rs44,700 per kg.

Marketmen said besides fall in demand from jewellers and retailers in the spot markets, a weak trend in precious metals overseas amid signs of slowing physical demand led to the fall in gold prices.

Gold in Singapore, which normally sets price trend on the domestic front, fell by 0.3% to $1,313.98 an ounce and silver by 0.3% to $20.82 an ounce.

In Delhi, gold of 99.9 and 99.5% purity fell by Rs160 each to Rs28,625 and Rs28,425 per ten gram, respectively. It had gained Rs765 in the last three days. Sovereign, however, continued to be asked at last level of Rs24,900 per piece of 8 gram in scattered deals.

Silver ready eased by another Rs100 to Rs44,700 per kg and weekly-based delivery by Rs175 to Rs44,250 per kg. The white metal had lost Rs100 on Monday.

On the other hand, silver coins remained steady at Rs79,000 for buying and Rs80,000 for selling of 100 pieces.

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