Web Sify
Follow us on

Gold down 200 on poor demand; silver falls by Rs 965

Source : PTI
Last Updated: Wed, Dec 05, 2012 09:43 hrs
A woman looks at a gold necklace at a jewellery shop in Agartala

New Delhi: Extending losses for the second straight session, gold prices on Wednesday fell by Rs 200 to Rs 31,680 per 10 grams due to poor demand at prevailing higher levels amid overnight losses in the global markets.

Silver followed suit and lost Rs 965 to Rs 61,435 per kg owing to reduced offtake by industrial units and coin makers.

Traders said poor demand at prevailing higher levels and a weakening trend in overseas markets mainly influenced gold prices.

Gold in New York, which normally sets the price trend on the domestic front, dropped by USD 19.20 to USD 1,696.80 and silver by 2.23 per cent to USD 32.91 an ounce.

Reduced offtake by industrial units and coin makers kept pressure on silver prices, they said.

On the domestic front, gold of 99.9 and 99.5 purity fell further by Rs 200 each to Rs 31,680 and Rs 31,480 per 10 grams, respectively. It had lost Rs 120 yesterday. Sovereigns also lost Rs 50 to Rs 25,500 per piece of eight grams.

In line with a general weakening trend, silver ready dropped by Rs 965 to Rs 61,435 per kg and weekly-based delivery by Rs 640 to Rs 62,835 per kg. Silver coins plunged by Rs 1,000 to Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces.

More from Sify:
blog comments powered by Disqus
  Cities   Price (10g)
  Chennai   Rs. 24500.00 (-0.33%)
  Mumbai   Rs. 25480.00 (-0.08%)
  Delhi   Rs. 25200.00 (0%)
  Kolkata   Rs. 25000.00 (0%)
  Kerala   Rs. 24400.00 (-0.41%)
  Bangalore   Rs. 24450.00 (0%)
  Hyderabad   Rs. 24580.00 (0%)
talking point on sify finance