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Gold down by Rs 125 on sluggish demand; silver up Rs 250

Source : PTI
Last Updated: Tue, Mar 05, 2013 10:45 hrs
Gold

Gold prices on Tuesday fell further by Rs 125 to Rs 30,045 per 10 grams here due to stockists selling amid slackened demand and weak global trend.

However, silver recovered by Rs 250 to Rs 55,450 per kg on increased offtake by industrial units and coin makers.

Marketmen said sluggish demand at current levels amid a weak global trend mainly led to the fall in gold prices.

In New York, gold declined by USD 2.20 to USD 1,574.60 an ounce.

In addition, investors shifting their funds to rising equity market for quick gains further influenced the sentiment.

On the domestic front, gold of 99.9 and 99.5 per cent purity fell by Rs 125 each to Rs 30,045 and Rs 29,845 per 10 grams, respectively. It had shed Rs 10 yesterday. Sovereigns continued to be asked around previous level of Rs 25,300 per piece of eight grams.

On the other hand, silver ready recovered by Rs 250 to Rs 55,450 per kg and weekly-based delivery by Rs 225 to Rs 55,050 per kg, respectively. Silver coins also jumped up by Rs 1,000 to Rs 82,000 for buying and Rs 83,000 for selling of 100 pieces.




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