Gold, silver down on sluggish demand

Source : PTI
Last Updated: Tue, Feb 19, 2013 10:26 hrs
Shopkeeper displays gold jewellery inside his shop in Jammu

Both the precious metals, gold and silver, fell here today due to sluggish demand and reduced offtake by industrial units and coin makers.

While gold fell by Rs 15 to Rs 30,400 per 10 grams, silver lost Rs 150 to Rs 56,700 per kg.

Traders said sluggish demand from retailers mainly pulled down gold prices, while reduced offtake by industrial units and coin makers kept pressure on silver prices.

Gold of 99.9 and 99.5 per cent purity declined by Rs 15 each to Rs 30,400 and Rs 30,200 per 10 grams, respectively. Sovereigns, however, held steady at Rs 25,300 per piece of eight grams.

In line with a general weak trend, silver ready declined by Rs 150 to Rs 56,700 per kg and weekly-based delivery by Rs 160 to Rs 56,240 per kg.

Silver coins held steady at Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces.

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