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Gold, silver stay subdued on tepid demand

Press Trust of India  |  New Delhi 

The downward movement of continued for the fourth straight day as prices dropped by Rs 50 to Rs 34,000 per 10 grams at the market Thursday owing to slackened demand from local jewellers, despite positive global cues.

Similarly, silver 150 to Rs 40,650 per kg owing to reduced offtake by industrial units and coin makers.

Globally, was trading 0.18 per cent higher at USD 1,309.20 an ounce and silver by 0.52 per cent to USD 15.71 an ounce in

In the national capital, of 99.9 per cent and 99.5 per cent purities drifted lower by Rs 50 each to Rs 34,000 and Rs 33,850 per 10 grams, respectively.

The had lost Rs 230 in the previous three days.

Sovereign gold also weakened by Rs 100 to Rs 26,000 per piece of eight grams.

Tracking gold, silver ready declined by Rs 150 to Rs 40,650 per kg, while weekly-based delivery fell by Rs 134 to Rs 39,490 per kg.

On the other hand, silver coins continued to be traded at Rs 80,000 for buying and Rs 81,000 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: Thu, February 14 2019. 14:15 IST