Gold, silver down on sluggish demand, global cues
Both the precious metals, gold and silver, fell here Monday, owing to subdued demand at prevailing levels amid a weak global trend.
New Delhi: Both the precious metals, gold and silver, fell here Monday, owing to subdued demand at prevailing levels amid a weak global trend.
While gold declined by Rs 10 to Rs 30,170 per 10 grams, silver by Rs 50 to Rs 55,200 per kg on reduced offtake by jewellery fabricators and industrial units.
Traders said sluggish demand at prevailing higher levels amid a weak global trend mainly led to decline in gold and silver prices.
In London, gold declined by USD 3.10 to USD 1,573.70 an ounce and silver by 0.24 percent to USD 28.51 an ounce.
On the domestic front, gold of 99.9 and 99.5 percent purity declined by Rs 10 each to Rs 30,170 and Rs 29,970 per 10 grams, respectively, while sovereigns held steady at Rs 25,300 per piece of eight grams.
Similarly, silver ready fell by Rs 50 to Rs 55,200 per kg and weekly-based delivery by Rs 100 to Rs 54,825 per kg.
Silver coins also dropped by Rs 1000 to Rs 81,000 for buying and Rs 82,000 for selling of 100 pieces.