Gold prices softened by Rs 115 to Rs 32,285 per ten gram

Traders said fading demand from local jewellers and retailers at current higher levels led to decline in gold prices, though a firm trend overseas capped the fall.

Gold prices softened by Rs 115 to Rs 32,285 per ten gram

New Delhi: Gold on Monday softened by Rs 115 to Rs 32,285 per ten gram on sluggish demand from local jewellers even as overseas trend firmed up. Silver also eased by Rs 100 to Rs 41,300 per kg due to reduced offtake by industrial units and coin makers.

Traders said fading demand from local jewellers and retailers at current higher levels led to decline in gold prices, though a firm trend overseas capped the fall.

Globally, gold rose 0.20 percent to USD 1,320.50 an ounce and silver by 0.15 percent to USD 16.67 an ounce in Singapore.

In the national capital, gold of 99.9 percent and 99.5 percent purity fell by Rs 115 each to Rs 32,285 and Rs 32,135 per ten gram, respectively.

Sovereign however remained unaltered at Rs 24,800 per piece of eight gram.

Following gold, silver ready traded lower by Rs 100 to Rs 41,300 per kg and weekly-based delivery by Rs 70 to Rs 40,470 per kg.

Silver coins however held steady at Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.