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Gold, Silver extend losses on sluggish demand

Source : PTI
Last Updated: Mon, Oct 22, 2012 11:26 hrs
Woman touches gold necklace at jewellery store during festival in Allahabad

New Delhi: Both the precious metals, gold and silver, extended losses in the national capital on Monday owing to slackened demand at prevailing higher levels.

While gold fell further by Rs 100 to Rs 31,500 per 10 gm, silver lost Rs 270 at Rs 59,550 per kg.

The gold of 99.9 and 99.5 per cent purity declined by Rs 100 each to Rs 31,500 and Rs 31,300 per 10 gm, respectively. The metal had lost Rs 125 on Saturday's trade. Sovereign held steady at Rs 25,450 per piece of eight gram.

In line with a general weakening trend, silver ready fell by Rs 270 to Rs 59,550 per kg and weekly-based delivery by Rs 170 to Rs 59,650 per kg. It had lost Rs 780 in the previous session.

However, silver coins continued to be asked around previous level of Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.

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