rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » Gold, silver fall on subdued demand, weak global cues

Gold, silver fall on subdued demand, weak global cues

July 10, 2013 16:31 IST

Gold, silver fall on subdued demand, weak global cues

     Next

Next

Both the precious metals, gold and silver, fell in the national capital on Wednesday on subdued demand at prevailing higher levels amid a weak global trend.

While gold fell by Rs 115 to Rs 26,715 per 10 grams, silver lost Rs 400 to Rs 40,350 per kg on lack of buying support from jewellers and industrial units.

Traders said subdued demand at prevailing higher levels amid a weak global trend as investors await minutes from the Federal Open Market Committee's meeting last month amid bets the central bank will begin reducing stimulus mainly influenced the sentiment.

Click NEXT to read more…


Image: A woman looks at gold jewellery.
Photographs: Saad Shalash/Reuters

     Next

Gold, silver fall on subdued demand, weak global cues

Prev     Next
Prev

Next

Gold in Singapore, which normally sets the price trend on the domestic front, lost 0.6 per cent to $1,244.03 an ounce and silver slumped 1.4 per cent to $19.03 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity fell by Rs 115 each to Rs 26,715 and Rs 26,515 per 10 grams, respectively.

It had climbed Rs 280 on Tuesday. Sovereigns followed suit and declined by Rs 100 to Rs 24,000 per piece of eight grams.

Click NEXT to read more…


Photographs: Reuters

Prev     Next

Gold, silver fall on subdued demand, weak global cues

Prev     More
Prev

More

In a similar fashion, silver ready declined by Rs 400 to Rs 40,350 per kg and weekly-based delivery by Rs 300 to Rs 40,300 per kg, respectively.

The white metal had gained Rs 610 in the previous session.

Silver coins also plunged by Rs 1,000 to Rs 78,000 for buying and Rs 79,000 for selling of 100 pieces on poor demand at existing higher levels.


Photographs: Reuters
Tags:

Prev     More
© Copyright 2013 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.