Gold, Silver Fall on Fresh Selling by Stockists - The New Indian Express

Gold, Silver Fall on Fresh Selling by Stockists

Published: 21st January 2014 04:44 PM

Last Updated: 21st January 2014 04:45 PM

Snapping its two-day rising streak, gold prices fell by Rs 20 to Rs 30,180 per ten grams in the national capital today on selling by stockists at existing higher levels amid a weak global trend.

Silver followed suit and lost Rs 350 at Rs 44,900 per kg on lack of buying support from industrial units and coin makers.

The two precious metals also fell in Mumbai on fresh wave of selling by stockists. Gold of 99.9 and 99.5 per cent purity fell by Rs 60 each to Rs 30,110 and Rs 29,960 per ten grams and silver lost Rs 350 at Rs 45,650 per kg.

Traders said selling by stockists in line with a weak global trend led to decline in gold and silver prices.

Gold in Singapore, which normally sets price trend on the domestic front, fell by 0.3 per cent to USD 1,251.34 an ounce and silver by 0.5 per cent to USD 20.21 an ounce.

At the domestic front, gold of 99.9 and 99.5 per cent purity declined by Rs 20 each to Rs 30,180 and Rs 29,980 per ten grams, respectively. It had gained Rs 230 in last two sessions. Sovereign also moved up by Rs 100 to Rs 25,100 per piece of eight grams.

In a similar fashion, silver ready dropped by Rs 350 to Rs 44,900 per kg and weekly-based delivery by Rs 380 to Rs 44,820 per kg. The white metal had gained Rs 650 in the previous two sessions.

Silver coins, however, held steady at Rs 86,000 for buying and Rs 87,000 for selling of 100 pieces in restricted buying.

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