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Rediff News  All News  » Business » Gold falls on profit-selling; silver remains higher

Gold falls on profit-selling; silver remains higher

March 13, 2014 15:55 IST

Gold barsGold prices fell by Rs 220 to Rs 30,800 per 10 grams in the national capital today on emergence of profit-selling at prevailing higher levels.

However, silver gained for the third-day by adding Rs 200 to Rs 46,900 per kg on sustained buying by industrial units and coin manufacturers.

Traders said profit-selling by stockists at prevailing higher levels against sluggish demand mainly pulled down gold prices.

Rising equities lured investors to park their funds

for quick gains and that reduced the gold demand, they said.

On the domestic front, gold of 99.9 and 99.5 per cent purity plunged by Rs 220 each to Rs 30,800 and Rs 30,600 per ten grams, respectively.

It had shot up by Rs 320 on Thursday.

Sovereign fell by Rs 50 to Rs 25,350 per piece of eight grams.

On the other hand, silver ready advanced by Rs 200 to Rs 46,900 per kg and weekly-based delivery by Rs 240 to Rs 46,690 per kg. It had gained Rs 770 in last two days.

Silver coins also spurted by Rs 1,000 to Rs 87,000 for buying and Rs 88,000 for selling of 100 pieces.

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