Gold, silver fall on sluggish demand, global cues

 
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Gold, silver fall on sluggish demand
New Delhi, Sept 21: Both the precious metals, gold and silver, fell in the national capital today on sluggish demand at prevailing higher levels amid a weak global trend. While gold dropped by Rs 190 to Rs 32,310 per 10 grams, silver lost Rs 370 at Rs 61,630 per kg on reduced offtake by industrial units and stockists.

Traders said sluggish demand at prevailing higher levels and a weak trend in overseas markets mainly pulled down both gold and silver prices. Globally, gold traded lower by 0.07 per cent to USD 1,768.50 an ounce in New York last night.

On the domestic front, gold of 99.9 and 99.5 per cent purity dropped by Rs 190 each to Rs 32,310 and Rs 32,110 per 10 grams, respectively.

It had gained Rs 200 in the previous session. Sovereigns followed suit and shed Rs 50 at Rs 25,450 per piece of eight grams. Similarly, silver ready dropped by Rs 370 to Rs 61,630 per kg and weekly-based delivery by Rs 145 to Rs 64,325 per kg.

Silver coins also declined by Rs 1,000 to Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.

PTI

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