Free Press Journal

Gold, silver fall on lower offtake, global cues

FOLLOW US:

Gold rises

Mumbai: Gold prices extended its fall at the domestic bullion market here on subdued offtake from stockists and investors amid lower local buying interest, also mainly triggered by sustained fall at the international markets.Silver also slid following speculative selling and lacklustre industrial demand.

Standard gold (99.5 purity) dropped by Rs 135 to end at Rs 26,730 per 10 grams from last Saturday’s close of Rs 26,865. Pure gold (99.9 purity) also dipped by a similar margin of Rs 135 to conclude at Rs 26,880 per 10 grams as against Rs 27,015 previously.

Silver (.999 fineness) slipped by Rs 340 per kg to finish at Rs 37,330 as compared to Rs 37,670 last weekend. Globally, gold fell for third session in early European trade as a rebound in stocks and strength in the dollar pulled the metal further, though prices remained underpinned by uncertainty over the timing of a US rate rise. In London, Spot Gold was quoting down at USD 1,171.36 an ounce in early trade and Spot Silver was also lower at USD 15.86 an ounce.