Gold prices softened by Rs 50 to Rs 31,600 per ten gram at the bullion market today on sluggish demand from local jewelers amid...
Gold prices softened by Rs 50 to Rs 31,600 per ten gram at the bullion market today on sluggish demand from local jewelers amid the weak trend overseas. However, silver prices rose by Rs 50 to Rs 40,500 per kg on scattered inquiries from industrial units and coin makers. Traders said tepid demand from local jewelers and retailers at domestic spot market and a weak trend overseas weighed on gold prices. Globally, gold fell 0.12 percent to USD 1,291.50 an ounce in New York in yesterday's trade.
Gold slips on sluggish demand
In the national capital, gold of 99.9 percent and 99.5 percent purity declined by Rs 50 each to Rs 31,600 and Rs 31,450 per ten gram, respectively. The precious metal had gained Rs 50 yesterday. Sovereign gold, however, remained unaltered at Rs 24,800 per piece of eight gram. On the other hand, silver ready edged up by Rs 50 to Rs 40,500 per kg and weekly-based delivery by Rs 85 to Rs 39,575 per kg. Silver coins, however, remained steady at Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.
