Home / Opinion / Online-views /  Gold declines by 180; silver gains 225

New Delhi: A divergent trend was seen in the bullion market on Monday as gold fell by 180 to 30,270 per 10 grams, while silver gained 225 to 53,200 per kg.

Traders said gold declined on stockists selling, driven by a weak global trend where a stronger dollar curbed the demand for the metal as an alternative investment.

In London, gold fell by 0.2% to $1,569.78 an ounce and silver shed by 0.7% to $26.735 an ounce.

Besides fall in demand at existing high higher levels kept pressure on the precious metal’s prices.

On the domestic front, gold of 99.9% and 99.5% purity fell by 180 each to 30,270 and 30,070 per 10 grams, respectively.

Sovereign remained steady at 24,450 per piece of eight grams.

Silver ready recovered by 225 to 53,200 per kg, while weekly-based delivery dropped by 1,365 to 52,435 per kg.

Silver coins held steady at 62,000 for buying and 63,000 for selling of 100 pieces in thin trade.

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