Gold slides on low demand from jewellers

Gold prices Saturday declined by Rs 30 to Rs 32,190 per 10 gram at the bullion market in the national capital on weak demand from local jewellers.

Similarly, silver rates dropped by Rs 200 to Rs 38,400 per kg on sluggish demand from industrial units and coin makers.

In the national capital, gold of 99.9 per cent and 99.5 per cent purities dropped by Rs 30 to Rs 32,190 and Rs 32,040 per 10 gram, respectively.

Sovereign gold stood steady at Rs 25,000 per 8 gram.

Traders said gold prices fell due to dip in wedding season demand.

Globally, gold slipped to USD 1,238.12 an ounce in New York, while silver held steady at USD 14.57 an ounce.

In the domestic market, silver ready declined by Rs 200 to Rs 38,400 per kg, while weekly-based delivery fell by Rs 76 to Rs 38,054 per kg.

Besides, silver coins remained unchanged at Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.