Gold, sil­ver lose sheen on sub­dued de­mand

The Hitavada - - BUSINESS -

GOLD prices on Fri­day fell by an­other Rs 150 to Rs 32,250 per 10 grams at the bul­lion mar­ket due to muted de­mand, the third straight ses­sion loss for the pre­cious metal. Sil­ver too fol­lowed suit and fell by Rs 600 to Rs 38,400 per kg. In the in­ter­na­tional mar­ket, gold traded at USD 1,219.51 an ounce and sil­ver at USD 14.40 an ounce in New York.

Bul­lion traders said the de­cline in prices was mainly due to muted do­mes­tic de­mand and weak global trend.

In the Na­tional Cap­i­tal, gold of 99.9 per cent and 99.5 per cent pu­rity priced at Rs 32,250 and Rs 32,100 per 10 grams, re­spec­tively. Gold prices had dropped by Rs 210 to Rs 32,400 per 10 grams dur­ing spe­cial ‘Di­wali Muhu­rat’ trad­ing at the bul­lion mar­ket on Wed­nes­day. Sovereign also weak­ened by Rs 100 to Rs 24,700 per piece of eight grams on Fri­day.

Sim­i­larly, sil­ver ready fell by Rs 600 to Rs 38,400 per kg.

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