Gold falls on weak global trend

Source : PTI
Last Updated: Thu, Feb 14, 2013 10:22 hrs
Woman wears gold bangle at jewellery shop in Siliguri

Gold fell by Rs 75 to Rs 30,725 per ten grams in the national capital on Thursday on stockists' selling, in line with a weak global trend.

Silver also lost Rs 1000 to Rs 57,000 per kg on increased selling in the face of reduced offtake, following end of marriage season.

Marketmen said stockists selling driven by a weak global trend and reduced offtake by retailers following ending marriage season, mainly kept pressure on gold prices.

Meanwhile, gold in New York, which normally sets the price trend on the domestic front here fell by USD 8.70 to USD 1642.60 an ounce. Silver declined by 1.09 per cent to USD 30.78 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity fell by Rs 75 each to Rs 30,725 and Rs 30,525 per ten grams, respectively. Sovereign followed suit and declined by Rs 50 to Rs 25,300 per piece of eight gram.

In a similar fashion, silver ready dropped by Rs 1000 to to Rs 57,000 per kg and weekly-based delivery by Rs 385 to Rs 57,315 per kg.

Silver coins too plunged by Rs 1000 to Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.

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