New Delhi: Gold prices softened by Rs 25 to
Rs 30,225 per ten grams today, halting its five-day long
winning run, owing to slackened demand from local jewellers at
prevailing levels even as the metal strengthened overseas.
However, silver rose further by Rs 200 to Rs 39,700 per
kg due to increased offtake by industrial units and coin
makers.
Traders said easing demand from local jewellers and
retailers at the spot market mainly led to a decline in gold
prices but a firm trend overseas squeezed the slide.
Globally, gold rose 0.05 per cent to USD 1,295.30 an
ounce in Singapore.
Diversion of funds towards the soaring equity market and
an appreciating rupee against the dollar also weighed on gold
prices.
In the national capital, gold of 99.9 per cent and 99.5
per cent purity shed Rs 25 each to Rs 30,225 and Rs 30,075 per
ten grams, respectively. It had gained Rs 565 in the previous
five sessions.
Sovereign however remained unaltered at Rs 24,700 per
piece of eight gram.
On the other hand, silver ready advanced by Rs 200 to Rs
39,700 per kg, while weekly-based delivery eased by Rs 60 to
Rs 38,790 per kg.
Silver coins spurted by Rs 1,000 to Rs 73,000 for buying
and Rs 74,000 for selling of 100 pieces.
PTI
