Gold prices snap 3-day rally, silver surpasses Rs 40,000 level

Snapping its three-day gains, gold Friday declined by Rs 145 to Rs 32,690 at the bullion market in the national capital amid weaker dollar against rupee, according to the All India Sarafa Association.

Silver, however, continued its rising streak and crossed the Rs 40,000-mark to Rs 40,140, gaining Rs 440 on increased demand from industrial units and coin makers.

Traders said a weaker dollar compared to the rupee and subdued demand from local jewellers put pressure on the prices of yellow metal.

In the previous three days, gold prices had surged by a total of Rs 565.

In Delhi, prices of gold of 99.9 per cent and 99.5 per cent purities declined by Rs 145 each to Rs 32,690 and Rs 32,540 per 10 gram, respectively.

Sovereign gold, however, remained unchanged at Rs 25,200 per piece of 8 gram.

Globally, gold prices traded higher at USD 1293.61 an ounce and silver advanced to USD 15.75 an ounce in New York.

Silver ready rose by Rs 440 to Rs 40,140 per kg and weekly-based delivery witnessed a marginal rise of Rs 71 to Rs 39,436 per kg.

Silver coins, on the other hand, remained unchanged at Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.