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Rediff.com  » Business » Gold, silver fall on stockists selling

Gold, silver fall on stockists selling

Last updated on: December 23, 2013 18:09 IST

Bullion graphGold prices on Monday fell by Rs 175 to Rs 30,225 per ten grams in the national capital on stockists selling against sluggish demand at higher levels.

Silver also lost Rs 280 to Rs 43,670 per kg on reduced offtake.

Traders said stockists selling against sluggish demand at higher levels mainly pulled down both gold and silver prices.

In Mumbai, gold 99.9 and 99.5 per cent purity traded at Rs 29,850 and Rs 29,700 per ten grams, respectively, while silver enquired at Rs 44,400 per kg.

Strengthening rupee against the American currency, which make the dollar-priced precious metal's import cheaper also influenced the sentiment to some extent, they said.

On the domestic front, gold of 99.9 and 99.5 per cent purity fell by Rs 175 each to Rs 30,225 and Rs 30,025 per ten grams, respectively.

It had gained Rs 240 in last trade.

Sovereign shed Rs 50 at Rs 25,100 per piece of eight gram.

In line with a general weak trend, silver declined by Rs 280 to Rs 43,670 per kg and weekly-based delivery by Rs 30 to Rs 43,970 per kg.

The white metal had gained 450 in the previous session.

However, silver coins held steady at Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.

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Tags: Mumbai