Silver inches up, gold down by Rs 130 on loss of demand

Despite a firming global trend, gold prices here today fell by Rs 130 to Rs 20,770 per ten gram, on fall in demand at existing higher levels.

However, silver was marginally up by Rs 20 to Rs 43,900 per kg on some buying by industrial units.

Trading sentiment in gold remained weak as retailers refrained from purchasing the metal at prevailing higher levels.

A better trend in overseas markets, which normally set price trend here, failed to lift the trading sentiment.

On the domestic front, the gold of 99.9 per cent purity fell by Rs 140 to Rs 20,770 per ten gram. It had fell by Rs 110 in the precious trade.

In a similar fashion, the gold of 99.5 per cent purity lost Rs 150 to Rs 20,650 per ten gram.  

However, sovereign was stable at Rs 16,700 per piece of eight gram for want of buying support. 

On the other hand, silver ready found buying support from industrial units and gained by Rs 20 to trade at Rs 43,900 per kg, while weekly-based delivery fell by Rs 110 to Rs 43,340 per kg.

Silver coins continued to trade around previous levels of Rs 46,400 for buying and Rs 46,500 for selling of 100 pieces.