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Gold sheds Rs 150 to Rs 30,250 per 10 gm on weak global cues, tepid demand

Globally, gold fell 0.69% to $1,274.60 an ounce in New York on Thursday

Press Trust of India  |  New Delhi 


tumbled by Rs 150 to Rs 30,250 per ten gram at the bullion market on Friday, hit by a subdued trend overseas and falling demand from local jewellers.

Silver, too, faced selling pressure and lost Rs 125 to Rs 39,200 per kg.

Traders said the global weakness of precious metals, as higher dollar against a basket of currencies overseas dented the safe haven appeal of gold, dampened sentiments here.

Globally, fell 0.69 per cent to $1,274.60 an ounce in New York on Thursday.

A considerable drop in demand from jewellers and retailers at existing levels, too, hit the sentiment, they said.

In the national capital, 99.9 per cent and 99.5 per cent purity drifted lower by Rs 150 each to Rs 30,250 and Rs 30,100 per ten gram, respectively. The had lost Rs 120 on Thursday.

Sovereign, however, traded flat at Rs 24,700 per piece of eight gram in scattered deals.

In sync with the overall trend, ready slipped by Rs 125 to Rs 39,200 per kg and weekly-based delivery by Rs 210 to Rs 37,710 per kg.

coins also came under some pressure and fell by Rs 1,000 to trade at Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.

First Published: Fri, December 01 2017. 15:57 IST