Gold, silver down on poor demand

New Delhi, Aug 18: Both the precious metals, gold and silver, declined today on reduced offtake at prevailing higher levels. While gold fell by Rs 10 to Rs 30,440 per 10 grams, silver shed Rs 200 to Rs 54,100 per kg.

Traders said fall in demand at prevailing higher levels mainly led to decline in gold and silver prices. Gold of 99.9 and 99.5 per cent purity declined by Rs 10 each to Rs 30,440 and Rs 30,240 per 10 grams, respectively, while sovereigns held steady at Rs 24,500 per piece of eight grams.

In line with a general weakening trend, silver ready fell by Rs 200 to Rs 54,100 per kg and weekly-based delivery by Rs 160 to Rs 53,640 per kg. Silver coins also moved down by Rs 1,000 to Rs 65,000 for buying and Rs 66,000 for selling of 100 pieces.

PTI