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Gold remains weak on global cues, muted demand

Press Trust of India  |  New Delhi 

prices fell further by Rs 30 to Rs 31,350 per 10 grams at the market today largely due to a weak trend overseas amid tepid demand from local jewellers.

Silver followed suit and lost another Rs 150 at Rs 40,500 per kg owing to reduced offtake by industrial units and coin makers.

Marketmen said sentiment remained downbeat on the back of subdued global cues as the US dollar firmed amid an escalating trade spat between the and

Globally, fell 0.36 per cent to USD 1,250.50 an ounce and silver by 0.75 per cent to USD 15.90 an ounce in

Furthermore, muted demand from local jewellers and retailers at the domestic spot market put pressure on prices.

In the national capital, of 99.9 per cent and 99.5 per cent purity 30 each to Rs 31,350 and Rs 31,200 per 10 grams, respectively. The had lost Rs 270 yesterday.

Sovereign, however, held steady at Rs 24,800 per piece of eight grams in limited deals.

In sync with gold, silver ready drifted lower by Rs 150 to Rs 40,500 per kg and weekly-based delivery by Rs 265 to Rs 39,610 per kg.

Silver coins, however, continued to be enquired at previous level of Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, July 11 2018. 14:35 IST
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