Gold loses lustre on muted demand, silver slides more

New Delhi, Oct 13 (PTI) Gold prices dropped a tad -- byRs 30 -- to close at Rs 30,800 per 10 grams today, dampened bydemand slackness even as the m...

New Delhi, Oct 13 (PTI) Gold prices dropped a tad -- byRs 30 -- to close at Rs 30,800 per 10 grams today, dampened bydemand slackness even as the metal traded strong overseas.

Silver eased by a bigger margin Rs 100 to Rs 41,200 perkg as industrial units and coin makers held themselves back.

Domestic jewellers and retailers were not too forthcomingin their orders at the prevailing level, but a firm trendoverseas checked the decline in gold prices.

Globally, gold rose 0.18 per cent to USD 1,295.40 anounce and silver by 0.17 per cent to USD 17.26 an ounce inSingapore.

In the national capital, gold of 99.9 per cent and 99.5per cent purity shed Rs 30 each to Rs 30,800 and Rs 30,650 per10 grams, respectively. It had advanced Rs 80 yesterday.

Sovereign, however, was steady at Rs 24,700 per piece ofeight grams.

While silver ready fell by Rs 100 to Rs 41,200 per kg,weekly-based delivery edged up by Rs 55 to Rs 40,385.

Silver coins, however, continued to be traded at theprevious level of Rs 74,000 for buying and Rs 75,000 forselling of 100 pieces. PTI SUN KPSARD.

This is unedited, unformatted feed from the Press Trust of India wire.

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