Gold, silver fall on sluggish demand

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Gold prices fell by Rs 80 to Rs 29,970 per ten grams in the national capital on stockists selling against sluggish demand at prevailing higher levels. Silver also declined by Rs 200 to Rs 44,600 per kg on lack of buying support from industrial units and coin makers. In Mumbai, gold of 99.9 and 99.5 per cent purity dipped by Rs 55 each to Rs 29,880 and Rs 29,730 per ten grams, while silver lost Rs 400 at Rs 45,000 per kg.
Traders said stockists selling on sluggish demand at prevailing higher levels mainly kept pressure on the two commodities. At the domestic front, gold of 99.9 and 99.5 per cent purity fell by Rs 80 each to Rs 29,970 and Rs 29,770 per ten grams, respectively, while sovereign held steady at Rs 25,000 per piece of eight grams. In a similar fashion, silver ready declined by Rs 200 to Rs 44,600 per kg and weekly-based delivery by Rs 300 to Rs 44,500 per kg. Silver coins, however, continued to be asked at last level of Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.
Source: Economictimes.Indiatimes.com
Source:Bullion Bulletin

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