New Delhi: Extending losses for the second
day, gold prices on Wednesday fell by Rs 150 to Rs 28,200 per 10 gram
in the national capital on a weakening global trend.
However, silver recovered by Rs 400 to Rs 44,800 per kg
on increased off take by industrial units and coin makers.
Traders said besides sustained selling by stockists,
a weakening trend in overseas market mainly weighed on gold
Sluggish domestic demand too put pressure on gold prices,
Gold in New York, which normally sets price trend on the
domestic front, fell by 0.36 per cent to USD 1,298.80 an ounce
in yesterday's trade.
In Delhi, gold of 99.9 and 99.5 per cent purity fell
further by Rs 150 each to Rs 28,200 and Rs 28,000 per ten gram
respectively. It had shed Rs 20 yesterday.
Sovereign followed suit and lost Rs 200 at Rs 24,700 per
piece of eight gram.
On the other hand, silver ready rebounded by Rs 400 to
Rs 44,800 per kg and weekly-based delivery by Rs 65 to Rs
44,235 per kg. The white metal had lost Rs 400 in the previous
Silver coins, however, moved in a tight range in
scattered deals and settled at last level of Rs 77,000 for
buying and Rs 78,000 for selling of 100 pieces.