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Rediff.com  » Business » Gold snaps 4-day rising streak on profit-selling

Gold snaps 4-day rising streak on profit-selling

April 26, 2014 17:31 IST

Gold jewellerySnapping a four-day rising streak, gold prices fell by Rs 60 to Rs 30,620 per ten gram in the national capital today on emergence of profit-selling at existing higher levels against sluggish demand.

Silver also declined by Rs 170 to Rs 43,250 per kg on reduced offtake by industrial units.

Traders said profit-selling by stockists at prevailing higher levels against sluggish demand mainly led to decline in gold prices.

They said reduced offtake by industrial units kept pressure on silver.

In Delhi, gold of 99.9 and 99.5 per cent purity fell by Rs 60 each to Rs 30,620 and Rs 30,420 per ten gram respectively.

It had gained Rs 640 in the previous four sessions.

Sovereign, however, remained steady at Rs 25,000 per piece of eight gram.

Silver ready declined by Rs 170 to Rs 43,250 per kg and weekly-based delivery by Rs 120 to Rs 42,600 per kg. The white metal had gained Rs 240 on Friday.

Silver coins continued to be asked at last level of Rs 82,000 for buying and Rs 83,000 for selling of 100 pieces.

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Tags: Delhi