Gold down by Rs 10; silver by Rs 200 on sluggish demand
New Delhi: Both the precious metals, gold and silver, Monday declined due to sluggish demand at prevailing higher levels amid stockists selling.
While gold declined by Rs 10 to Rs 29,465 per 10 grams, silver lost Rs 200 to Rs 54,300 per kg on reduced offtake by industrial units and stockists.
Traders said subdued demand at prevailing higher levels mainly helped both gold and silver prices to trader lower.
Some profit selling by stockists following three days of gaining, also influenced the market sentiment, they added.
On the domestic front, gold of 99.9 and 99.5 percent purity shed Rs 10 each to Rs 29,465 and Rs 29,325 per 10 grams, respectively. The metal had gained Rs 1035 in previous three sessions. Sovereigns, however, held steady at Rs 23,800 per piece of eight grams.
Similarly, silver ready declined by Rs 200 to Rs 54,300 per kg and weekly-based delivery by Rs 225 to Rs 54,360 per kg. The white metal had recorded a gain of Rs 2200 in last three sessions.
Silver coins, too, traded lower by Rs 1,000 to Rs 62,000 for buying and Rs 63,000 for selling of 100 pieces.