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Gold sheds Rs 40 on global cues, muted demand

Press Trust of India  |  New Delhi 

prices went down by Rs 40 to Rs 31,650 per 10 grams at the market today, driven by a weak trend overseas amid easing demand from local jewellers.

However, silver held steady at Rs 40,500 per kg on scattered deals from industrial units and coin makers.

Marketmen said besides weak global cues, a fall in demand from local jewellers and retailers at existing levels in the domestic spot market, mainly weighed on the prices.

Globally, fell 0.22 per cent to USD 1,254.50 an ounce and silver by 0.12 per cent to USD 16.01 an ounce in yesterday.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity fell by Rs 40 each to Rs 31,650 and Rs 31,500 per 10 grams, respectively. The had gained Rs 330 in the previous three days.

Sovereign, however, remained flat at Rs 24,800 per piece of eight grams.

On the other hand, silver ready was unchanged at Rs 40,500 per kg, while weekly-based delivery declined by Rs 90 to Rs 39,790 per kg.

Silver coins, however, continued to be enquired at last levels 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: Sat, July 07 2018. 14:50 IST