Gold declines on profit-selling, weak demand

Gold declines on profit-selling, weak demand

Mumbai: Gold prices declined at the bullion market here on Monday due to lack of local buying interest coupled with mild stockists offerings at existing higher levels.

Standard gold (99.5 purity) fell by Rs30 per 10 grams to close at Rs18,690 from its last closing level of Rs18,720.

Pure gold (99.9 purity) also looked down by a similar margin of Rs30 per ten grams to end at Rs18,780 per ten grams, as against Rs18,810 last weekend.

Silver, also eased in the absence of demand from industrial users.

Silver ready (.999 fineness) moved down by Rs25 per kilo to settle at Rs29,490 from Rs29,515 on previous close.