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Gold price snaps 2-day uptrend; slips by Rs 20 to Rs 30,230 per 10 gm

Last Updated: Friday, April 18, 2014 - 15:40

New Delhi: Snapping a two-day rising trend, gold prices fell by Rs 20 to Rs 30,230 per ten gram in the national capital Friday owing to slackened demand at prevailing higher levels amid weak global cues.

Silver also declined by Rs 200 to Rs 43,000 per kg on lack of buying support from industrial units.

Traders said besides sluggish demand at prevailing higher levels, weak global trend due to eroding of demand for the metal on signs of gains in the US economy, mainly influenced the sentiment.

Gold in New York, which normally set price trend on the domestic front, fell by 0.7 percent to USD 1,293.90 per ounce and silver by 0.2 percent to 19.59 dollar an ounce.

On the domestic front, gold of 99.9 and 99.5 percent purity declined by Rs 20 each to Rs 30,230 and Rs 30,030 per ten gram respectively. It had gained Rs 250 in last two trade. Sovereign remained flat at Rs 25,000 per piece of eight gram.

Silver ready lost Rs 200 at Rs 43,000 per kg while weekly- based delivery rose by Rs 135 to Rs 42,375 per kg. Silver coins spurted by Rs 1,000 to Rs 82,000 for buying and Rs 83,000 for selling of 100 pieces.

First Published: Friday, April 18, 2014 - 15:38
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