Free Press Journal

Gold eases on lacklustre buying, silver tumbles

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Big Set of Gold bars. Close up Image

Mumbai: Gold prices declined modestly at the domestic bullion market here today due to reduced offtake from jewellery stockists and retailers on weak global cues. Silver also fell sharply following heavy speculative
unwinding.

Standard gold (99.5 purity) moved down by Rs 25 per 10 grams to settle at Rs 25,170 from last Wednesday’s closing level of Rs 25,195. Pure gold (99.9 purity) also softened by a similar margin to end at Rs 25,320 per 10 grams compared to Rs 25,345. Silver (.999 fineness) slumped by Rs 430 to finish at at Rs 34,030 per kg from Rs 34,460 earlier.

In worldwide trade, the yellow-metal retreated after recent week-long rally in quiet trading as some investors remained away from the market for year-end holidays.


Spot gold was down at USD 1,072 an ounce in early European trade and silver quoted lower at USD 14.05 an ounce.