Gold Prices Extend Losses To Second Day, Slip Below 33,000 Rupees Mark – NDTV News
Gold prices declined by Rs 155 per 10 grams to Rs 32,875 per 10 grams at the bullion market here on Saturday, amid a weak global trend and fading demand from local jewellers. Silver also dropped by Rs 600 per kilogram to Rs 39,850 per kg due to reduced offtake by industrial units and coin makers.
Apart from a weak global trend, marketmen said tepid demand from local jewellers and retailers at the domestic spot market weighed on gold prices, traders said.
Globally, gold ended lower at $1,287.80 an ounce and silver rose to $15.67 an ounce in New York.
In the national capital, gold of 99.9 per cent and 99.5 per cent purities declined by Rs 155 per 10 grams each to Rs 32,875 per 10 grams and Rs 32,725 per 10 grams respectively.
The precious metal had declined by Rs 40 per 10 grams on Friday.
Sovereign, however, remained steady at Rs 25,300 per piece of eight grams.
In sync with gold, silver ready dived Rs 600 per kg to Rs 39,850 per kg, while weekly-based delivery dropped by Rs 295 per kg to Rs 39,471 per kg.
Silver coins, however, held flat at Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.