New Delhi: Gold edged lower by Rs 25 to Rs
30,475 per ten gram at the bullion market today owing to
slackened demand from local jewellers amid a weak trend
overseas.
Silver plunged by Rs 400 to Rs 39,500 per kg due to
reduced offtake by industrial units and coin makers.
Traders said muted demand from local jewellers and
retailers at domestic spot market and a weak trend overseas as
the dollar strengthened against major currencies overseas,
reducing appeal of the precious metal as safe haven, mainly
weighed on the precious metal prices.
Globally, gold fell 0.25 per cent to USD 1,309.30 an
ounce and silver by 0.32 per cent to USD 16.88 an ounce in
Singapore.
In the national capital, gold of 99.9 per cent and 99.5
per cent purity shed Rs 25 each to Rs 30,475 and Rs 30,325 per
ten gram, respectively. It had gained Rs 50 in the last two
days.
Sovereign however was steady at Rs 24,700 per piece of
eight gram.
Following gold, silver ready dropped by Rs 400 to Rs
39,500 per kg and weekly-based delivery by Rs 265 to Rs 38,835
per kg.
Silver coins too tumbled by Rs 1,000 to Rs 72,000 for
buying and Rs 73,000 for selling of 100 pieces.
PTI
