New Delhi: Snapping its two-day rising
streak, gold prices drifted lower by Rs 150 to Rs 31,250 per
10 grams at the bullion market today, largely on weak global
trend amid slackened demand from local jewellers.
However, silver advanced by Rs 100 to Rs 40,300 per kg on
increased offtake by industrial units and coin makers.
Sentiment took a hit as the yellow metal weakened
overseas after the US Federal Reserve left interest rates
unchanged and demand from local jewellers and retailers fell
in the domestic spot market, bullion traders said.
Globally, gold fell 0.42 per cent to USD 1,339.40 an
ounce and silver by 0.55 per cent to USD 17.21 an ounce in
Singapore.
In the national capital, gold of 99.9 per cent and 99.5
per cent purity fell by Rs 150 each to Rs 31,250 and Rs
31,100 per 10 gram, respectively. The precious metal had
gained Rs 280 in last two days.
Sovereign, however, remained flat at Rs 24,800 per piece
of 8 grams.
On the other hand, silver ready rose further by Rs 100
to Rs 40,300 per kg and weekly-based delivery by Rs 130 to Rs
39,440 per kg.
Silver coins continued to trade at previous level of Rs
74,000 for buying; and Rs 75,000 for selling of 100 pieces.
PTI
